WARSAW: Aberdeen Asset Management Plc is pulling money out of Polish bonds, saying the country’s new leaders are undermining safeguards aimed at keeping public spending and politicians in check.
The money manager started selling Polish long-term local- currency notes last week as the ruling Law & Justice party, which swept into power in October, proposed easing rules in place to restrain public spending, according to Viktor Szabo, who helps manage US$12bil of emerging-market debt for Aberdeen in London.
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