Sometimes you have to borrow money to stay strong.
That’s what Poland appears to be doing as part of its announcement today that it plans to ask the IMF for a $20 billion flexible line of credit. The move will increase Poland’s central bank reserves by one third and, in the words of that country’s finance minister, the line of credit is an insurance policy.
Poland is generally considered to be one of the healthier countries in the region. Yet it’s currency has been under attack by speculators.
For more on the story, click here for an account in Deutsche Welle of Germany.