Statistics Poland / International Statistics / International Institutions/Organisations / UN - United Nations / IMF (2024)

FAQs

Is Poland a member of the IMF? ›

March 14, 1950; Poland was readmitted as a member of the Fund on June 12, 1986.

International Monetary Fund has raised its forecast for Poland's GDP growth in 2024 to 3.1 percent from 2.8 percent, and raised it to 3.5 percent in 2025 from 3.2 percent, according to the latest version of the IMF's cyclical World Economic Outlook report.

Argentina is the biggest debtor to the IMF, with a total outstanding debt of $42.9bn. The country has had a long and troubled relationship with the IMF, with a history of equally spectacular fall-outs and bail-outs. At the turn of the century, the IMF made $88.3bn available to bail out the country's ailing economy.

The International Monetary Fund (IMF) is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Poland is a member of the European Union (EU), the Schengen Area, North Atlantic Treaty Organisation (NATO), United Nations (UN), International Monetary Fund (IMF), United Nations Educational, Scientific and Cultural Organisation (UNESCO), United Nations International Children's Emergency Fund (UNICEF), World Health ...

Out of the total 196 countries of the world, 189 countries are members of the International Monetary Fund or IMF. The countries that are not a part of the IMF are Cuba, North Korea, Monaco, Taiwan, Vatican City, and East Timor Liechtenstein.

The privatisation of small and medium state-owned companies and a liberal law on establishing new firms has encouraged the development of the private business sector, which has been the main drive for Poland's economic growth.

Poland is considered a developed nation. , so it is either categorized as a developed country or as a “country to be considered developed”. According to Human Development Index, Poland scores 0.872 while Czechia 0.891 (the threshold for the “very high development” being 0.8).

Updated October 2023

Poland's economic freedom score is 66, making its economy the 42nd freest in the 2024 Index of Economic Freedom. Its rating has decreased by 1.7 points from last year, and Poland is ranked 23rd out of 44 countries in the Europe region.

Earlier, in terms of loans from the IMF, Argentina ranked first with USD 46 billion, Egypt stood in second place with USD 18 billion, Ukraine came in third with USD 12.2 billion, Ecuador took the fourth spot with USD 8.2 billion, and Pakistan was at fifth position with USD 7.4 billion.

Who owns the US debt? ›

1 Foreign governments hold a large portion of the public debt, while the rest is owned by U.S. banks and investors, the Federal Reserve, state and local governments, mutual funds, pensions funds, insurance companies, and holders of savings bonds.

Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP.

China as a current member of the IMF, is bounded by the Articles of Agreement of the International Monetary Fund.

Former members are Cuba (which left in 1964), and Taiwan, which was ejected from the IMF in 1980 after losing the support of the then United States President Jimmy Carter and was replaced by the People's Republic of China. However, "Taiwan Province of China" is still listed in the official IMF indices.

Criticisms of the IMF include. On giving loans to countries, the IMF make the loan conditional on the implementation of certain economic policies. These policies tend to involve: Reducing government borrowing – Higher taxes and lower spending.

After separating from the World Bank and other International Financial Institutions for decades due to pressure from the Soviet Union, Poland rejoined the World Bank on June 27, 1986.

Like all member countries, the government of Poland maintains a permanent delegation to the OECD, composed of an ambassador and diplomats.

At the end of the fourth quarter of 2023 the consolidated public debt (according to domestic definition) stood at PLN 1 328.1 billion and compared with: the previous quarter it rose by 52.8 billion (+4.1%); the end of 2022 it rose by PLN 118.6 billion (+9.8%).