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Economic Panel               /          The future of global debt


Beata Javorcik Chief Economist, The European Bank for Reconstruction and Development

Beata Smarzynska Javorcik is a Polish economist who is currently a Chief Economist at the European Bank for Reconstruction and Development (EBRD). She is the first woman who holds this position.


Beata Javorcik is also the first woman to hold a statutory professorship in Economics at the University of Oxford. She is a former senior economist at the Development Economics Research Group of the World Bank, where prior to this position she served as a Country Economist for Azerbaijan, Europe, and Central Asia Region and involved in research activities regarding lending operations and policy advice to these countries.


She is also a program director of International Trade and Regional Economics Programme at the Centre for Economic Policy Research in London. Her involvement in other affiliations include Royal Economic Society London, CESifo Munich, International Growth Centre London, and Centre for Research on Globalization and Economic Policy at the University of Nottingham. 

Born in 1960, Mr. Wojciechowski graduated with a Bachelor degree in Economics from John Carroll University, Ohio in the United States in 1986. Two years later, he obtained Masters in Operations Research from Case Western Reserve University in Cleveland, Ohio, where he also finalised his doctoral studies; and subsequently received a Ph.D. degree from the Systems Research Institute of the Polish Academy of Sciences in 1994.

Mr. Wojciechowski has academic, corporate and governmental experiences. While staying in Cleveland between 1983 and 1991, he worked as an analyst at the Centre for Regional Economic Issues and lectured in statistics at John Carroll University.

After returning to Warsaw, from 1992 to 1995, he advised the Polish government on privatization and capital market development, including work for UNDP, the Ministry of Privatization and KPMG/USAID.

From 1995 to 2005, he worked as Director in the Polish Development Bank S.A., as CEO of ATUT TFI S.A. – an investment fund company and CEO of PTE Allianz Poland S.A. – a pension fund company.

In 2006, Mr. Wojciechowski was entrusted with the position of Minister of Finance, then he headed the Polish Information and Foreign Investment Agency for two years. In the years 2009-2010 Mr. Wojciechowski was Undersecretary of State at the Ministry of Foreign Affairs in Poland, responsible for economic cooperation and development.

From 2010 to 2014 he served as Permanent Representative of Poland to the OECD. As an Ambassador he also chaired the Governing Board of the Development Center, the Eurasia Roundtable and he was the Dean of the OECD Council. After returning to Poland, he was appointed Chief Economist of the Polish Social Insurance Institution.


Piotr Arak  Director, Polish Economic Institute

Piotr Arak is the director of the Polish Economic Institute.


A social and economic analyst, he previously worked at Deloitte, Polityka Insight think-tank, the United Nations Development Programme, the Ministry of Administration and Digitisation, and the Chancellery of the Prime Minister.


He graduated in social policy from the University of Warsaw, followed by further studies on using statistical methods in business and an MBA at the Warsaw School of Economics and the Université du Québec à Montréal.


He is writing his PhD on public policy at the University of Warsaw. He has written numerous studies on digitisation, economic policy and health economics.

Graduate of the Faculty of Law of the European School of Law and Administration and the Warsaw School of Economics. In 1997 he graduated in finance and banking at the Warsaw School of Economics, obtained PhD degree in economic sciences in 2002 and habilitation degree in 2016. He was a scholarship holder at the IMF Financial Market Instruments Vienna Institute IMF. His doctoral conferment process has been initiated at the Faculty of Law of the Lazarski Univeristy.

He has been associated with public institutions and financial market institutions for the last 20 years. In 1997-2012 he worked in the Financial Policy and Analysis Department and the Financial Market Development Department of the Ministry of Finance.

In the years 2006-2013 he was a member of the Exchange Supervisory Board. Since 2007 he has been associated with Bank Gospodarstwa Krajowego where he was the Vice Chairman of the Supervisory Board, then Managing Director and Director of the Compliance Office. In 2010-2012 he represented the competent minister in charge of financial institutions in the Interministerial Committee on Financial Security, operating at the General Inspector of Financial Information. He was a member of the Supervisory Board of the National Capital Fund S.A. He has been a member of the Ethics Committee at the Polish Bank Association since 2017. From June 23, 2017 to May 31, 2020 he was Deputy Minister of Science and Higher Education.


Piotr Bujak  Head of Economic Research and Chief Economist at PKO Bank Polski

He has been dealing with macroeconomic research and forecasting for over 20 years. Since 2016
head of Economic Research Department and Chief Economist at PKO Bank Polski. Earlier he had
gained vast experience at international financial institutions: Chief Economist for Poland at Nordea
Markets (2011-2014) and Senior Economist at Santander Bank Polska (2002-2011).


Prior to that, he was an expert at the leading economic think-tank in Poland, the Center for Social and Economic Research (CASE) taking part in scientific and advisory projects abroad. Warsaw University graduate.

Participated in many trainings covering econometric modelling, forecasting and mathematical methods
in financial markets Co-author of a few books and numerous economic articles. Regularly awarded for
accuracy of economic forecasts (Consensus Economics, Focus Economics, Forbes, Parkiet,
Rzeczpospolita), including multiple awards for the most accurate macroeconomic forecasts for Poland
for 2020.

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