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Restrictions in Focus as Virus Cases Escalate; New Law Needed to Solve FX Loans

POLAND

LOCAL NEWS

  • Poland to decide on tightening restrictions in next regions by Friday. Risks for Mazowsze and Lubuskie regions are "considerable" according to Govt officials.
    • Hospitalizations are rising with 70% of Covid beds & 80% of ventilators occupied in Mazowsze.
    • Due to new mutations, more people 40-50 years old require hospitalization
  • Raiffesen Head says only solution for Poland's FX-loan problem is a new law. Notes settlements proposed by KNF regulator won't guarantee legal certainty
    • Says the new law should divide the costs of the operation among banks, customers and the state.
    • Raiffeisen, which has 30,000 FX loans in Poland, is currently sued in 4,000 FX-loan cases and expects a large increase in lawsuits
  • Deputy Funds Min says Polish firms will be able to tap into a ~PLN 36bn pool of EU funds under a new operational program for modern economy, dubbed FENG in Polish, that will replace the smart growth POIR program from the previous EU financial framework, deputy Fund
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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