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Adam Glabesky review. He is the worst central bank governor in Europe

Global Finance has prepared another global ranking of central bank heads. It covers the period from July 1, 2020 to June 30, 2021. Adam Glapieski, President of the National Bank of Poland received a grade of ‘C’ for the second year in a row (on the AF scale, where A is the best and F is the worst). Only the central bank governors of Ukraine and Belarus, the corresponding Kerio Shevchenko and Bowie Kalor, performed equally poorly in Europe.

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The rating authors admit that the past year has been very difficult for central bankers due to the pandemic. However, even taking into account the unfavorable conditions, Adam Glapinsky performed poorly.

The descriptive assessment of moderate, and sometimes even negative, monetary policy conducted by NBP governors has been negatively evaluated. His stance in the face of rising inflation in Poland has been particularly criticized. Global Finance also believes that Glapiński has cut interest rates to nearly zero, despite the negative impact of the move on banks. Although the strategy of the NBU governor was to facilitate the handling of the crisis and appreciate the zloty, the authors of the rating believe that low interest rates threaten the stability of the country’s financial sector.

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Global Finance Ranking

In Europe, the heads of the central banks of the Czech Republic, Bulgaria, Iceland and Russia received an “A” rating as the best ratings. The head of the Georgian Bank, in turn, received “A-“.

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B grades with minus or plus were given to heads of banks in Denmark, Hungary, NorwayRomania, Sweden, Switzerland and Great Britain.

In the overall ranking, only the Governor of the Central Bank of Venezuela, Calixto Ortega, has a rating of F.