Gov't lobbies Paris Club for early debt repayment to help boost ratings

Sources claim that until now Canada rejected Polish proposal to repay the debt of EUR 1.3 billion out of the total liability to the Paris Club which stands at EUR 12.3 billion. According to the Polish Finance Ministry, the repayment might improve the relation of public debt to GDP and thus positively influence Poland's ratings. The 16 countries which are creditors of the Paris Club, will make a final decision by the end of the week whether they will accept early repayment of the debt. The Polish government wants to be allowed to clear its debts to the Club within the next 18 months. According to Deputy Finance Minister Wiesław Szczuka, the Club will not make an unanimous decision, as the countries will separately announce whether they agree to participate in the operation. Repayment will be financed through issuing bonds on the foreign markets. (Parkiet, p. 7) M.M.