on, DC 20009; telephone (202) 234-3800 through 3802; there are
Polish Consulates General in Chicago, Los Angeles, and New York

:Poland Government

US:
Ambassador Thomas W. SIMONS, Jr.; Embassy at Aleje Ujazdowskie 29/31, Warsaw
(mailing address is American Embassy Warsaw, Box 5010, or APO AE
09213-5010); telephone [48] (2) 628-8298; FAX [48] (2) 628-9326; there is a
US Consulate General in Krakow and a Consulate in Poznan
Flag:
two equal horizontal bands of white (top) and red; similar to the flags of
Indonesia and Monaco which are red (top) and white

:Poland Economy

Overview:
Poland is undergoing a difficult transition from a Soviet-style economy -
with state ownership and control of productive assets - to a market economy.
On January 1, 1990, the new Solidarity-led government implemented shock
therapy by slashing subsidies, decontrolling prices, tightening the money
supply, stabilizing the foreign exchange rate, lowering import barriers, and
restraining state sector wages. As a result, consumer goods shortages and
lines disappeared, and inflation fell from 640% in 1989 to 60% in 1991.
Western governments, which hold two-thirds of Poland's $48 billion external
debt, pledged in 1991 to forgive half of Poland's official debt by 1994, and
the private sector grew, accounting for 22% of industrial production and 40%
of nonagricultural output by 1991. Production fell in state enterprises,
however, and the unemployment rate climbed steadily from virtually nothing
in 1989 to 11.4% in December 1991. Poland fell out of compliance with its
IMF program by mid-1991, and talks with commercial creditors stalled. The
increase in unemployment and the decline in living standards led to popular
discontent and a change in government in January 1991 and again in December.
The new government has promised selective industrial intervention, some
relaxation in monetary policy, and an improved social safety net, but will
be constrained by the decline in output and the growing budget deficit.
GDP:
purchasing power equivalent - $162.7 billion, per capita $4,300; real growth
rate -5% (1991 est.)
Inflation rate (consumer prices):
60% (1991 est.)
Unemployment rate:
11.4% (end December 1991)
Budget:
revenues $19.5 billion; expenditures $22.4 billion, including capital
expenditures of $1.5 billion (1991 est.)
Ex