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Warsaw attacks sanctions, as Polish-debt talks begin

While Western and Polish bankers expressed optimism they could work out an agreement on rescheduling Poland's $4 billion commercial debt, Warsaw attacked Western economic sanctions, saying they are an economic aggression that makes timely debt repayment impossible.

The subject of discussion here between Polish officials and members of a 13 -bank group representing about 500 Western creditor banks is how Poland will pay its debts. Banking sources said there was no talk of Poland unilaterally declaring a moratorium on its debts.

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