Narodowy Bank Polski

Marek Belka appointed new NBP president

Date: 11-06-2010

On Thursday, 10 June 2010, the Sejm approved Professor Marek Belka as President of the NBP. On Friday morning, Prof. Marek Belka was sworn in and soon after that he arrived at the NBP Head Office and took over the management of the Polish central bank.

Marek Belka, aged 58, is an economist, professor and academic teacher. He has served twice as Deputy Prime Minister and Minister of Finance in two Polish governments. From 2 May 2004 to 31 October 2005 he also served as Prime Minister. Before that, he was Director of Economic Policy in the Coalition Provisional Authority in Iraq, where he was responsible for the currency reform, the development of a new banking system and supervision of the economy.

Having stepped down as prime minister, he was appointed Executive Secretary of UN Economic Commission for Europe (UNECE). In January 2009, he was appointed Director of European Department at the International Monetary Fund. He left this office in May 2010 when he agreed to run for the position of President of the NBP.

Prof. Marek Belka has published more than 100 scientific papers devoted primarily to the theory of money and anti-inflation policy in developing countries. He specialises in applied economics and contemporary economic thought.

During the hearing before the parliamentary committee and in his address at the plenary session of the Sejm, Prof. Marek Belka declared that he would strengthen the independence of the NBP and would cooperate with the government and other authorities in support of the Polish economy, provided this would not put at risk the performance of the NBP’s primary objective, which is the stability of the zloty. He also emphasised that he intended to actively participate in the discussion about the economy’s development paths.

NBP interest rates

Reference rate 6.75
Lombard rate 7.25
Deposit rate 6.25
Rediscount rate 6.80
Discount rate 6.85

Exchange rates

Table of 2023-01-27
1 EUR4.7076
1 USD4.3252
1 CHF4.6961
1 GBP5.3505
100 JPY3.3309

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