The Paris Club has given permission to Poland for early repayment of its debt, deputy finance minister Wieslaw Szczuka said on Tuesday. Szczuka added that the letter the ministry received from the Paris Club did not contain the viewpoint of particular members of the Club on this matter and talks would be held with each member separately.
At the beginning of January, the finance ministry said that in 2005 Poland intended to repay earlier its commitments to the Paris Club and that the operation would be financed by the issue of foreign bonds, which was to occur within the next 12-18 months. The Paris Club debt, a "legacy" of the communist era, currently amounts to EUR 12.3bn, and in accordance with agreements, should be almost totally repaid by 2009.