ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Problems of Poland s Foreign Debt

POLAND'S foreign debt is one of the most serious economic problems facing the country. Besides the indebtedness in the developed countries, the debts in CMEA are an important element of the problem. Since 1974 the debt of Poland in transferable rouble (rbt) terms has been growing due to the trade deficits. The growth was especially rapid in the 1980s, mainly to the Soviet Union. In 1975 the rouble debt amounted to rbt 430 mln, in 1979 rbt 845 mln, by the end of 1987 it was eight times higher than at the end of 1979 (Table 1). In 1988 the rouble debt of Poland decreased by 0.1 bin, to the level of rbt 6.5 bin. The debt consisted mainly of the liabilities to the Soviet Union (Table 2).

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