Polish Finance Minister wins Emerging Europe prize

Finance Minister Jacek Rostowski: photo - PAP/Rafal Guz

The Polish Minister was voted winner by a combination of economists, bankers and investors from both the public and private sectors, under the auspices of economics news source Emerging Markets.

“Not only did Poland escape recession, it also managed to bring down its budget deficit and has the most developed debt market in central and eastern Europe,” Emerging Markets concluded.

David Hauner, head of EEMEA economics and fixed income strategy at BofA Merrill Lynch, outlined that Rostowski's strategy as Poland's Finance Minister presented a model that Western European countries could replicate.

“He did it consistently and in a way that coordinated discretionary measures and through growth to bring down the deficit over time,” Hauner reflected.

Hauner's sentiments were echoed by Michael Ganske, head of emerging markets research at Commerzbank.

“The Polish performed well because they handled debt management well,” he said.

“[Rostowski] timed it well and used the opportunities offered by the markets for refinancing.” (nh)