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Moody’s warns foreign investment at risk amid Polish constitutional crisis

PR dla Zagranicy
Paweł Kononczuk 05.04.2016 11:43
Moody’s rating agency has warned that Poland’s constitutional crisis could damage the country’s attractiveness to foreign investors.
PM Beata Szydło. Photo: PAP/Marcin BieleckiPM Beata Szydło. Photo: PAP/Marcin Bielecki

“Poland (A2 stable) is facing heightened political risk as a result of its constitutional crisis. These developments may impair Poland’s attractiveness for foreign investors, a credit negative,” the Financial Times quoted Moody’s as saying in a report.

The agency said that in January, Poland saw a net portfolio outflow of USD 3.1 billion, the second largest reading in the last 10 years.

Moody’s warned in January that it could downgrade Poland’s rating.

Earlier that same month, Standard & Poor's shocked Poland with a credit rating downgrade, a move that sparked anger in Warsaw, with the Polish finance ministry calling the decision “incomprehensible”.

Poland’s Constitutional Tribunal on March 9 rejected a series of controversial changes to the way it functions introduced by the ruling Law and Justice party.

The court's ruling is only binding if officially published by Prime Minister Beata Szydło, which she has refused to do, claiming its decision is invalid. (pk)

Source: IAR

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