ROLA ELASTYCZNEJ LINII KREDYTOWEJ W GOSPODARCE POLSKI
THE ROLE OF THE FLEXIBLE CREDIT LINE IN THE POLISH ECONOMY

Summary/Abstract: This article attempts to answer the question of what was the role of the Flexible Credit Line (FCL) in the Polish economy. The first part of the paper describes FCL as a new preventative tool used by International Monetary Fund. The second part presents the FCL in the context of reserve adequacy assessment in Poland. The third part shows consequences of the FCL. They were associated with measurable costs for our economy, but more important were benefits in the account of stabilization and financial safety.

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