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Rosati: USD 1-1.5bn of privatisation revenues to by-pass local forex market

2000-07-11 00:00
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2000-07-11 00:00

Rosati: USD 1-1.5bn of privatisation revenues to by-pass local forex market

The government will put at least USD 1bn - USD 1.5bn of privatisation revenues on its special account with the central bank, the Monetary Policy Council (RPP) member Dariusz Rosati revealed. He added that RPP and the Finance Ministry have already agreed on a certain amount of hard currency to be transferred to that account and that the lower end of the sum was USD 1-1.5bn. The funds kept in the central bank are earmarked for foreign debt payments, which this year exceed USD 1bn. Analysts expect that the government will probably "earn" at least USD 5bn from the sale of its assets in 2000 and some 30% of it would be transferred to the special account. The zloty will not probably suffer a big blow, as most investors and traders expected that some of the privatisation funds would by-pass the foreign exchange market.

Źródło:IntelliNews Daily
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