The IMF's Executive Board has approved a one-year credit line for Poland of $20.6 billion to help it weather the global economic crisis.

Poland is the second country, after Mexico, to be granted access under the IMF's new Flexible Credit Line (FCL), which is being offered to strongly performing economies with a solid record of timely and effective policy adjustments. The Polish government has announced it intends to treat the credit line as precautionary.

"While Poland is being hit hard by the global crisis, it has preserved access to international capital markets, contrary to many peers in the region," Poul Thomsen, the IMF's mission chief for Poland, said.

"We agree with the authorities that the FCL will help preserve its access to capital markets, by signaling the IMF's strong endorsement of policies and by providing assurances that the national bank has adequate reserves to intervene if the situation gets worse than expected."