Poland’s central bank governor under fire from both political sides

Six members of Poland’s Monetary Policy Council have signed an appeal to calm the tensions surrounding Adam Glapiński – Governor of the NBP (Poland’s central bank) and Chair of the RPP (Monetary Policy Council). However, some of the strongest criticisms have come from within the ranks of the ruling party itself. 

Chair of the Monetary Policy Council, Governor of the NBP, Professor Adam Glapiński.

Chair of the Monetary Policy Council, Governor of the NBP, Professor Adam Glapiński.Photo: PAP/Tomasz Gzell

Amid calls to summon Adam Glapiński before the State Tribunal for his alleged mismanagement of inflation and breaking procedural rules set down by the Constitution, six members of Poland’s Monetary Policy Council (RPP) have called for „careful consideration” before taking „impulsive decisions”. 

However, the situation has been exacerbated for Glapiński by the fact that a member of the Board of the NBP (Poland’s central bank), Paweł Mucha, has been the most vocal critic and Mucha comes from the same political camp as Glapiński – the ruling party, Law and Justice, and not the opposition. 

The State Tribunal is the Polish equivalent of impeachment, a judicial body provided for in the Constitution, whose purpose is to judge the constitutional liability of those holding the highest offices of state.

Paweł Mucha has claimed publicly that information concerning decisions of the Monetary Policy Council was kept hidden from the Board of the NBP, contrary to the Polish Constitution:

W NBP publiczna kłótnia. Obóz „prezydencki” kontra #PIS. Paweł Mucha, były minister w Kancelarii Prezydenta, teraz członek Zarządu #NBP krytykuje Glapińskiego i twierdzi, że prezes łamie prawo👇🏻 pic.twitter.com/yM1z94ctuH— Monika WIELICHOWSKA (@MWielichowska) November 9, 2023

This accusation may prove legally more troublesome for Glapiński than the attacks from, for example, leading Polish economist and former NBP Governor Leszek Balcerowicz. Balcerowicz has said on several occasions that Poland’s inflation problems were exacerbated by Glapiński’s economic mismanagement.

In the event of Glapiński facing the State Tribunal, it might be difficult for critics to establish that economic decisions were taken, e.g. for the short-term interests of the ruling party and not, for example, because of divergent economic opinions. 

Opposition leaders Donald Tusk and Szymon Hołownia, have, by contrast, been more moderate in their recent pronouncements, apparently taking into consideration possible accusations of violating the constitutional independence of the NBP. On Friday Tusk stated:

„Our common task is also care for the reputation and stability of institutions in Poland. The central bank – the NBP – is one of those institutions requiring assiduous care. I have no doubt that we will not do anything that would disturb the stability or undermine the reputation of the Polish State in Europe, abroad.”

Sources: money.pl, PAP, X


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