IMF Staff Country Reports

This paper focuses on an arrangement under the Flexible Credit Line (FCL) for the Republic of Poland. Poland’s macroeconomic performance has been very strong. The authorities believe that access under an FCL arrangement in the amount of SDR 13.69 billion could help maintain market access and safeguard against downside risks during the current period of high volatility and retrenchment in international capital markets. IMF staff concurs and believes that, given Poland’s regional importance, the FCL may provide insurance not only to Poland, but also to the region more broadly.