Polish government bonds are headed for their worst performance since at least 1999, at risk of their first annual loss, on concern over the timing of the U.S. Federal Reserve’s planned stimulus reduction.
Poland met 88 percent of this year’s 193.5 billion zloty of borrowing needs at the end of September, Piotr Marczak, the head of Finance Ministry’s debt department, wrote in a e-mailed response to questions from Bloomberg News.
Poland is prepared to “flexibly’ adjust its debt sales to market conditions for a “long time” and is in a “relatively good situation” even with the Greek crisis, Piotr Marczak , the head of the Finance Ministry’s public debt department, was quoted as saying by Parkiet newspaper.
Poland still plans to sell dollar- denominated bonds this year if market conditions are favorable, Piotr Marczak, the director of the Finance Ministry’s debt department, was quoted today as saying by the newspaper Dziennik Gazeta Prawna.
Poland has financed all of its borrowing needs for this year after selling $2 billion in dollar-denominated bonds yesterday and an inflow of 440 million euros ($622 million) in credit from the European Investment Bank today, said Piotr Marczak, head of the ministry’s debt management department, in an e-mailed statement.
Poland’s Finance Ministry is “taking advantage” of the zloty’s recent weakness to sell some of the foreign currency it holds to buy zloty, Piotr Marczak, the director of the ministry’s debt department, was quoted today as saying by the newspaper Puls Biznesu.