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Polish Central Bank Is Willing to Give IMF Loan for Bailout Fund

Jan. 21 (Bloomberg) -- Poland’s central bank is willing to grant a loan to the International Monetary Fund, the bank’s management board said in an e-mailed statement late yesterday.

The Narodowy Bank Polski will participate in “temporarily increasing the IMF’s financial resources in the form of a bilateral loan” after a Jan. 16 request to that effect from the Finance Ministry, the bank said in a statement.

European leaders seeking to tame a sovereign debt and banking crisis pledged in December to channel 150 billion euros ($194 billion) to the IMF to help stabilize the economy and shore up investor confidence in the 17-nation bloc using the common currency.

The board will discuss the issue with the bank’s rate-setting Monetary Policy Council on Jan. 24, the bank said. The bank did not give details on the amount or time frame of the loan.

To contact the reporter on this story: Katya Andrusz in Warsaw at kandrusz@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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