Poland will benefit from reduced external vulnerabilities after the IMF extended by two years its flexible credit line for the country, but the economy still faces headwinds, with 2013 GDP growth likely declining to 1.8%, Moody's said in a report.

"The new two-year credit line will support Poland’s overall macroeconomic strategy by providing a cushion against balance of payments risks, an area in which the economy exhibits some vulnerabilities given that its external finances are weak compared to other ‘A’-category peers," Moody's wrote.

External balance will also be helped by slowing economy, which should reduce imports.

"Coupled with the country’s flexible exchange-rate regime, both factors limit the sovereign’s exposure to potential damage stemming from a “sudden stop” of capital inflows, and support the government’s A2 rating and stable outlook," Moody's wrote.