The Polish government has already secured some 30-35 per cent of its borrowing needs for next year, Mateusz Morawiecki, the prime minister, has said.
Morawiecki said at a press conference on Monday that Poland will organise new bond auctions “when the most appropriate conditions appear,” as he referred to two auctions that the state-run bank BGK had had to cancel due to a spike in Polish bond yields. BGK planned to sell its bonds at yields that significantly diverged from the market on auction days.
The prime minister argued that financial markets across the world were experiencing turbulence and added that “we have 30-35 per cent of pre-financing for next year.”
According to the tradingeconomics.com website, Poland’s bond yields were the fifth highest in Europe as of Monday morning, at 8.47 per cent, behind Hungary, Turkey, Russia and Romania. The Czech Republic, which is in sixth place, is paying bond yields of 6.20 per cent.