Polish PM hits out at 'politically-motivated' ratings agencies
PR dla Zagranicy
Paweł Kononczuk
21.01.2016 14:04
Prime Minister Beata Szydło has hit out at “politically-motivated” ratings after Standard & Poor's shocked Poland with a credit rating downgrade.
PM Beata Szydło. Photo: PAP/Radek Pietruszka
"I do not believe in ratings that are dictated by political considerations instead of by economic considerations, because then such a ratings agency starts becoming a political agency….” Szydło told reporters on Thursday.
Standard & Poor's last week lowered Poland's long-term foreign credit rating to BBB+ from A-, and warned of a possible further downgrade, saying the new Law and Justice (PiS) government has weakened the independence of key institutions.
The move by S&P sparked anger in Poland, with the Polish finance ministry calling the decision “incomprehensible”.
Szydło said that "in today's world, ratings agencies, instead of dealing with the economy and finances, deal with politics".
She added: "We are prepared for that, the Polish economy is stable and nothing bad will happen.” (pk)
Source: PAP