THE GOLD OF THE PEOPLE OF POLAND IS ALREADY OVER 400 TONNES

Poland already has larger holdings of gold than the United Kingdom. The value of NBP’s official reserve assets exceeds USD 200 billion. Through its consistent strategy of increasing gold reserves, Narodowy Bank Polski is getting closer to the world’s leading countries with the largest gold reserves, including the United States, Germany, France and Switzerland.

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If you are interested in the printed version of the book “Narodowy Bank Polski in times of the post-pandemic megashocks and the energy crisis – a success story”, place an order at biblioteka@nbp.pl. The publication is free.

Prof. dr hab. Adam Glapiński: “In the throes of a polycrisis – involving the pandemic crisis, the postpandemic crisis and the energy crisis resulting from the war in Ukraine – the monetary policy of Narodowy Bank Polski faced particularly tough challenges. For a number of years NBP had been preparing – analytically, operationally and legally – for a potential financial and banking crisis on a global or European scale, similar to that of 2008-2009. Yet, to the complete surprise of the whole world, the crises that followed were of a totally different character and nature. Many countries and central banks faced the threat of a true economic and social catastrophe. The danger of a massive economic collapse, a wave of bankruptcies and mass unemployment followed by soaring inflation – first post-pandemic and then triggered by Russia’s invasion of Ukraine – was a tremendous and unprecedented challenge for the economies of Western democracies, and the greatest since World War II.

With hindsight, I can note with great satisfaction that Narodowy Bank Polski along with all its bodies and staff rose to the occasion in these difficult times (…)”.