Chapter 705

Jeffrey Sachs stayed in Poland for a week, during which time, Walesa and his cabinet discussed with the Bank of Columbia and Jeffrey Sachs himself again and again. When the huge debt is about to mature, the Polish government really has no way to repay the foreign debt, and in the face of domestic hyperinflation, the Polish government is also helpless.

At present, most of the products sold by Glencore in Poland are settled in US dollars, and only a small part is paid back by copper and other minerals produced in Poland. For the Polish government, if they want to import urgently needed food, agricultural products and other livelihood goods from abroad, they can only consume us dollars and copper. Although Poland is a country rich in copper reserves, its production capacity is not enough to meet the needs of Glencore overnight. After the unhappy days of both sides, Glencore now does business with the Polish government. Without US dollars or copper, Poland can't even import a ship of wheat.

Now Walesa has only one life-saving straw thrown by the Bank of Columbia. So despite all the doubts, the Polish government seized the straw and agreed to let the Bank of Colombia take over Poland's central bank.

After being officially authorized by the Polish government, sax and Mikhail immediately started their operation. On the day after the signing of the cooperation agreement between the two sides, the Bank of Colombia announced in the name of the Central Bank of Poland that it would abolish the old Polish zloty and issue a new version of the Polish zloty. The exchange ratio between the new and old zloty is 1:100.

Many poles learned early in the morning from newspapers, television and radio that the government had issued the order to scrap banknotes. For a moment, the gates of Poland's major banks were crowded with residents who came to exchange banknotes. They rushed to the bank with bundles of banknotes to exchange for the new Polish zloty.

The enactment of the order is just the beginning. Although the ratio of 1:100 is just a number game, because of the new monetary system, the prices of commodities in the market are re linked with the new zloty.

Almost overnight, the prices of most commodities on the market dropped 100 times. Just the day after the Central Bank of Poland announced the order to scrap banknotes, the Polish government announced once again the news of raising bank interest rates and abolishing food and fuel subsidies. From then on, a large amount of money in circulation in the market began to return to the Central Bank of Poland.

It took only a week for Mikhail to fulfill his promise, and Poland's inflation was finally brought under control.

With the strength of Gorky financial group, there is basically no pressure to control the prices in Poland at will. After all, the population of Poland is one tenth of that of the Soviet Union, while Glencore controls the largest grain buyer in Canada, the United States and Australia.

Mikhail wants to use the Polish market as a banner for CBS in Eastern Europe, while seryosa supports his plan. Just after Poland's hyperinflation was brought under control, Yuri also arrived in Warsaw and began to lobby the Polish government for privatization reform.

Mikhail soon submitted the privatization reform plan to the Polish government, because the Bank of Columbia took over almost all of Poland's debt, so now the Bank of Columbia is Poland's largest creditor. This privatization reform plan is essentially a plan for Poland to repay the Bank of Colombia.

According to Mikhail's plan, the huge state-owned assets in the hands of the Polish government will be in the pocket of the Bank of Colombia. However, the Polish government is not clear about these things. They only know the mines, steel and metallurgical enterprises originally belonging to the country, as well as some domestic banks, Almost all of the assets, such as shipyards, are priced and put on the shelves for people to choose from.

Polonaise automobile has been taken over by Gorky Volkswagen, and some downstream enterprises as supporting factories are now on sale. Poland's state-owned ranches were sold off to Western oil company's animal husbandry branch, Gdansk's Shipyard, Poland's state-owned shipping company, and even Gdansk's port were bought by mediterranean shipping company as a whole. In addition, Poland's domestic airport, railway, canal and other transportation companies were completely carved up by Gorky group.

This series of dazzling sales and integration make Poland's economy begin to show signs of improvement. Naturally, the Polish government is grateful to CBC. But what they don't know is that it doesn't cost Gorky much money to eat these state-owned assets in Poland, because even Bank of Columbia prints bank notes in Poland. Glencore took advantage of this opportunity to clean up a large number of materials that have been stored for many years. On the surface, there are hundreds of enterprises from all over the world participating in the privatization of Poland. In fact, the best quality assets have long been in the pocket of Gorky group.

In just a few months, the package of foreign debt and economic transformation made Poland a country controlled by the Gorky consortium, but the Polish government did not realize this. On the contrary, because prices began to fall and the economy began to recover, the Polish people regained their trust in the government. At least Vanessa doesn't have to worry about her life.

The success of Poland's reform has made the Bank of Colombia and Jeffrey Sachs famous, while the package solution of foreign debt and economic transformation born out of Jeffrey Sachs's shock therapy has become a life-saving straw in the eyes of the emerging regimes in Eastern Europe. As Poland's economy began to get on the right track, Mikhail and Geoffrey Sachs successively received the invitation from the governments of Hungary and Czechoslovakia, inviting Colombia to continue the Polish style reform in Hungary and Czechoslovakia.

Naturally, Mikhail will not miss this opportunity. At this moment, a bigger idea is beginning to appear in his mind and in his mind. Can we establish a multinational central bank that includes the whole Eastern European countries to help the whole Eastern European region carry out integrated reform. Xie liaosha knows clearly in his heart that if this idea can be established, Eastern Europe will establish the euro zone more than ten years in advance. At that time, a unified and huge market will greatly enhance the competitiveness of this region. Most importantly, Colombia will become the Central Bank of the whole Eastern Europe. This idea is simply too tempting.

He knew that if Mikhail could succeed again in Czechoslovakia and Hungary, it would be natural for him to put forward the theory of a unified market in Eastern Europe.