According to the IMF, the NBP between July and September purchased over 13 tons of gold, representing 13 percent growth of the reserves. This means that Poland holds over 116 tons of the precious metal. Poland now holds more gold reserves than Greece and nearly as much as Mexico.
Poland holds over 116 tons of gold. Poland now holds more gold reserves than Greece and nearly as much as Mexico
Poland’s national bank was buying gold in a period when its price was falling because Turkey was having to sell off gold to prop up its rapidly devaluing domestic currency, and Germany, Morocco and the European Central Bank were also offloading some of their gold reserves, preferring to invest in the strengthening dollar.
The price of gold on November 1st alone rose by two percent. On November 2nd the value of Polish gold reserves amounted to 17.5 billion PLN.
Get your daily dose of Remix News straight to your mailbox!
You have successfully joined our subscriber list.
Polish central bank chief: ‘In less than 10 years, Poland may overtake Italy’s powerful economy’
Poland’s foreign currency reserves grow by 60% in last 5 years
The management of the National Bank of Poland helped avoid the darkest scenario for Poland’s economy during the pandemic, writes PiS MEP Zbigniew Kuźmiuk
Record number of coronavirus infections in Poland, nearly 2,000 cases reported in one day
Due to the rise in infection rate and deaths, the Ministry of Health will impose new restrictions throughout the country starting this Saturday
Ursula von der Leyen: Russia’s behavior has grown even worse since the Nord Stream 2 project began
The president of the European Commission admitted that trade and gas projects will not lead to improving relations between the EU and Russia
Polish President Duda: The Three Seas is the biggest opportunity for Poland since the 18th century
Polish president believes that while politicians can support economic growth, entrepreneurs are the main economic motor
Polish Senate rejects postal voting in presidential elections bill
The political drama associated with the presidential elections is intensifying in Poland. The head of the National Electoral Commission says an “election on May 10 is impossible”
Miracle: 100-year-old Polish patient cured of coronavirus in Warsaw
Deputy health minister says Poland might be at the climax of the epidemic
Cenckiewicz against Mazowiecki statue
Influential Polish historian and publicist Sławomir Cenckiewicz is against erecting a statue of Tadeusz Mazowiecki, the first post-communist Polish PM. Cenckiewicz also criticized the 1989 Polish Round Table Talks as a “betrayal of the elites.”
Pilecki’s story conquers Broadway
The monodrama performance based on reports by Witold Pilecki, Polish war hero who volunteered to Auschwitz and after the war was executed by communists, has conquered Broadway. The New York Times has declared Pilecki “one of the greatest heroes of the 20th century.”
Polish beer industry is booming
Poland’s brewery industry is the third largest in Europe. Annually over 40 million hectoliters of beer are produced in over 210 breweries throughout Poland.
Poland’s foreign debt is in decline
The government plans for foreign currency debt to be lower than 30 percent of GDP by the end of the year.
Morawiecki rings the bell at Wall Street
Prime minister Mateusz Morawiecki promoted the Polish economy in New York and encouraged foreign investments. The Polish PM opened the Wall Street trading session