Central bank objects to foreign press’ misleading information

The Czech National Bank has voiced objections to misleading information published by some foreign media outlets regarding the country’s economic condition. An article published by the British paper the Financial Times on Thursday put the Czech Republic’s national debt at 192 billion US dollars; the Czech central bank points out however that the country only owes 38 billion dollars. Also, the British weekly Economist wrote Saturday that the Czech crown was one of the East European currencies that are currently falling due to a large number of house mortgages taken in Swiss francs. The Czech National Bank says this problem does not in fact exist in the Czech Republic. The Czech National Bank said that such misleading information may put off potential investors, and was particularly harmful in the midst of a financial crisis.

Author: Jan Richter