Stable Foreign Holdings of Polish Government Debt

CEIC Macro Watch - November 29, 2013: In August 2013 the total State Treasury debt of Poland stood at PLN 842 billion, representing a 7% year-on-year increase. Of this total amount, PLN 258 billion represents foreign debt, held mainly in government bonds and loans, amounting to PLN 200 billion and PLN 58 billion respectively. The share of foreign debt in total State Treasury debt decreased to 30.7% at the end of August 2013, compared to 31.1% in August 2012. In general, foreign investors’ appetite for Polish debt securities appears to be insulated from the volatilities observed in some of its developing market counterparts. Despite the recent rise in Polish 10-year benchmark bond yields to almost 4.5%, the announcement that the quantitative easing programme in the US will be extended, and the decision by the European Central Bank to reduce its main refinancing operations rate (the repo) to 0.25%, are expected to give an additional boost to the Polish economy. By Petar Chavdarov Google+ Author Profile - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog
2nd December 2013 Stable Foreign Holdings of Polish Government Debt