Adam Glapiński faces recommendation for State Tribunal trial

The Sejm's Constitutional Responsibility Commission has recommended that the Polish Sejm bring Adam Glapiński, the President of the National Bank of Poland (NBP), before the State Tribunal. This follows a two-year investigation involving 70 witnesses.

The charges primarily concern the NBP's unconventional monetary policy during the COVID-19 pandemic and the subsequent energy crisis following the invasion of Ukraine. Specifically, the NBP is accused of purchasing derivative debt instruments on the secondary market to provide fiscal space for government relief programs, a practice critics argue bypassed certain legal restrictions.

The situation has raised concerns regarding the leadership and stability of the central bank. While Monetary Policy Council member Ludwik Kotecki noted that the Council can continue to function through established substitution procedures—with Ireneusz Dąbrowski designated to chair meetings in the President's absence—the lack of appointed deputy presidents adds to the institutional uncertainty.