End of the road for NBP President

Speaking at a press conference, Balcerowicz summed up his work as the NBP president Balcerowicz emphasizing that the mission of the NBP is to care for the strength of the Polish currency. He gave a reminder that the inflation rate at the beginning of his term in office in 2000 stood at 11%, and dropped to 1.4% in November 2006. He also pointed to the fact that real interest rates in Poland are among the lowest in the world. "We owe those results to a large extent to his knowledge, strong character and competence," said Henryka Bochniarz, president of the Polish Confederation of Private Employers Lewiatan. Balcerowicz said that the main achievements banks have recorded include the improvement of the payment system, the introduction of modern electronic banking systems, research and educational activities, and organizational changes which resulted in a 10% decrease in employment. He also said that his successor would be burdened with a huge constitutional and moral responsibility. Voting on the new NBP president is scheduled for today, however, it is still uncertain whether the presidential candidate Slawomir Skrzypek will manage to win the required support. (Puls Biznesu, pp. 1, 6) E.B.