# The Polish CCC default issue

**URL:** <https://boards.straightdope.com/t/the-polish-ccc-default-issue/944686>\
**Category:** Politics & Elections\
**Created:** [June 20, 2021, 1:28pm UTC](https://boards.straightdope.com/t/the-polish-ccc-default-issue/944686 "2021-06-20T13:28:10Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![cannonkuo](https://avatars.discourse-cdn.com/v4/letter/c/b9bd4f/32.png) [@cannonkuo](https://boards.straightdope.com/u/cannonkuo)\
**Post date:** [June 20, 2021, 1:28pm UTC](https://boards.straightdope.com/t/the-polish-ccc-default-issue/944686/1 "2021-06-20T13:28:10Z")

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If we press Exim to move rapidly toward disbursement on Yacyreta (Argentine hydropower project)or other loans to Argentina that may be swept up in an Argentine rescheduling, Exim would have every legal basis for refusing and we would risk the same sort of criticism we received on **the Polish CCC default issue**. (source: [Foreign Relations of the United States, 1981–1988, Volume XIII, Conflict in the South Atlantic, 1981–1984](https://history.state.gov/historicaldocuments/frus1981-88v13), [Document 376](https://history.state.gov/historicaldocuments/frus1981-88v13/d376))  
Can anyone please tell me what **the Polish CCC default issue** is?  
Thank you.

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**Author:** ![Elmer\_J.Fudd](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/elmer_j.fudd/32/1211_2.png) [@Elmer\_J.Fudd](https://boards.straightdope.com/u/Elmer_J.Fudd)\
**Post date:** [June 20, 2021, 1:55pm UTC](https://boards.straightdope.com/t/the-polish-ccc-default-issue/944686/2 "2021-06-20T13:55:08Z")

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Basically, in the early Eighties, Poland was playing the USSR and Western banks off against each other to float their massive foreign debt as long as possible. Borrowing money from one to pay off the other, back and forth.

> **[POLAND SAID TO PRODUCE CASH TO AVOID A DEFAULT (Published 1982)](https://www.nytimes.com/1982/01/04/world/poland-said-to-produce-cash-to-avoid-a-default.html)**

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**Author:** ![cannonkuo](https://avatars.discourse-cdn.com/v4/letter/c/b9bd4f/32.png) [@cannonkuo](https://boards.straightdope.com/u/cannonkuo)\
**Post date:** [June 20, 2021, 2:30pm UTC](https://boards.straightdope.com/t/the-polish-ccc-default-issue/944686/3 "2021-06-20T14:30:48Z")

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Thank you so much, Elmer\_J.Fudd.  
That was quick. I love this forum.