The Banker magazine has granted their 2010 Finance Minister of the Year award to Poland’s Jacek Rostowski.

At the award ceremony today, the editor-in-chief of the prestigious UK-based magazine, Brian Caplen, praised the composure of Poland’s finance minister, who did not succumb, he said, to the prevailing panic causing costly stimulating procedures during the global finance crisis.

Brain Caplen underlined that Minister Rostowski decided that cutting and not increasing public expenditure would help Poland overcome a threatening crisis. Caplen also said that Rostowski managed to present a clear path for Poland’s entry into the Euro Zone and negotiated a huge credit reserve from the IMF, which helped Poland maintain its credibility on international markets.

Receiving the award in London, Jacek Rostowski underlined that it is also a recognition of his fellow ministers in government, who accepted the harsh budget cuts he proposed.

The Banker awards have been granted for ten years now. The monthly magazine was set up on the initiative of Sir Winston Churchill and has been published since 1926. (ab/pg)