Int'l Monetary Fund report: Economy robust, but fiscal discipline essential

The IMF advises Poland to create an environment for foreign investment and continue to tighten fiscal discipline through control of the budget deficit. The report also advises that the government should exercise more caution in its response to interest rate cuts by the central bank. In related news, IMF resident representative in Poland, Francis Rozwadowski stated that the recent lowering of interest rates by the European Central Bank (ECB) would not have any immediate effect on the Polish economy, but said he expected a mild improvement in exports to European Union (EU) countries in the third and fourth quarters. (Rzeczpospolita, Apr. 10-11 page 7)