Cooperation with international financial institutions

Cooperation with the International Monetary Fund (IMF)

The cooperation focuses on working out the Polish position as regards the most important issues related to Fund membership. In this respect, the central bank cooperates with the Ministry of Finance. NBP covers expenses related to Poland’s IMF membership using its own funds.

NBP participates in annual reviews of the economy conducted by IMF expert missions. These reviews result in reports and forecasts concerning the development of the Polish economy.

NBP also cooperates with the IMF within the framework of programmes dealing with financial sector assessment and the extension of international statistical standards.

Cooperation with the World Bank and the European Bank for Reconstruction and Development (EBRD)

The Governor of NBP is Poland’s representative among the authorities of the World Bank and the European Bank for Reconstruction and Development.

Narodowy Bank Polski formulates Poland’s position with regard to the most important issues discussed by the World Bank and the EBRD. Representatives of NBP take part in annual meetings of the World Bank Group and in EBRD meetings.

NBP services foreign liabilities and receivables of the State Treasury vis-a-vis international financial institutions.

Cooperation with the Bank for International Settlements (BIS)

NBP is a shareholder of the Bank for International Settlements in Basle, which plays an important role in organising the cooperation between central banks.

Narodowy Bank Polski maintains working contacts with the BIS with regard to new financial instruments and the deposit portfolio of the bank.

Cooperation with the European Central Bank (ECB)

From the date of Poland’s accession to the European Union, NBP has become part of the European System of Central Banks (ESCB). This entails close collaboration with the European Central Bank and other central banks from European Union member states.

The Governor of NBP participates in the activities of the General Council of the ECB, which is one of the three decision-making organs of the Bank, alongside with the Governing Council and the Executive Board. NBP experts are members of ESCB committees and working groups, which prepare positions with regard to matters related to ESCB operations, e.g. the issue of the euro currency, banking statistics and legal regulations.

The collaboration with the ECB also consists in working contacts between NBP and ECB experts, consultations concerning drafts of legal acts, translating analyses and legal regulations as well as organising various training courses. NBP submits to the ECB statistical data regarding finance and banking, enabling the assessment of economic situation in the entire European Union.

See also