Is the new Finance Minister purposely avoiding making a policy statement?

Grzegorz Kolodko, the new Finance Minister has still not made any decl arations on his principles that will guide his economic policies, although such a statement is eagerly awaited by the markets. Foreign investors have remained nervous, selling Polish currency and bonds. "Investing in such conditions is like buying a pig in a poke," explained Jacek Wisniewski, an economist with Pekao SA. "The government wanted a weaker zloty and now they have it," said Marek Zuber, an independent economist. The exchange rate started to fall rapidly, by up to six groszy just after yesterday's session opened, but later made up ground closing around zl. 4.22 to the dollar, and a little lower against the euro. "I think that the worst is over, but it does not mean that zloty will be stronger, even if Kolodko decides to limit the budget deficit," said Wisniewski. According to an anonymous source close to minister, Kolodko is planning to stay away from journalists for a while yet as he wants to maintain uncertainty on the market. (Gazeta Wyborcza, p. 17) P.W.