US embassy cable - 05WARSAW742

UNCLAS WARSAW 000742 
 
SIPDIS 
 
 
Sensitive 
 
STATE FOR EUR/NCE TARA ERATH AND MICHAEL SESSUMS 
TREASURY FOR OASIA MATTHEW GAERTNER 
FRANKFURT FOR TREASURY JIM WALLAR 
 
E.O. 12958: N/A 
TAGS: EFIN, PREL, PL, Economy 
SUBJECT:  Polish Government Appreciates USG Acceptance of 
Paris Club Repayment Proposal 
 
Ref: (A) State 16349 (B) 2004 Warsaw 5662 
 
(U) This cable is sensitive, but unclassified, and NOT for 
Internet distribution. 
 
1. (U) On January 28, Econ Counselor delivered the news that 
the USG creditor agencies would participate in Poland's 
offer to prepay its Paris Club debt to Finance U/S Szczuka. 
Econoff subsequently followed up with MOF technical experts. 
During these conversations, we took the opportunity to 
explain this decision involved the USG making a budget 
allocation of $137 million to cover the prepayment.  GOP 
officials were very appreciative of the USG decision to 
support Poland's proposal. 
 
2. (SBU) MOF officials report that they now have a "critical 
mass" of countries willing to accept Poland's proposal, 
enabling the ministry to prepare to approach financial 
markets.  Poland is still lobbying some `recalcitrant' 
nations which it hopes will eventually accept the proposal. 
MOF stressed that fully discharging the Paris Club debt 
remains Minister Gronicki's top priority. 
 
3. (U) Embassy Warsaw greatly appreciates Washington 
agencies' assistance and the expeditious, favorable reply. 
 
Munter 
 
 
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 2005WARSAW00742 - Classification: UNCLASSIFIED