Edwin Walter Kemmerer (June 29, 1875 – December 16, 1945) was an American economist, who became famous as an economic adviser to foreign governments in many countries (Philippines, Mexico, Guatemala, Colombia, Germany, Chile, South Africa, Poland, Ecuador, Bolivia, China, Peru, and Turkey), promoting plans based on strong currencies, the gold standard, central banks, central bank independence, and balanced budgets.

His increasingly right wing politics appealed to American diplomats and bankers,[9]: 94–96  and the US at the time was attempting to "rebuild Europe's war-torn economy and thereby protect crucial agricultural and industrial markets, block the spread of Bolshevism, and ease the danger of renewed war and revolution.

So the Poles, after consulting with Benjamin Strong, President of the Federal Reserve Bank of New York, invited Kemmerer "to draw up a comprehensive plan for economic reform and stabilization.

A mechanism for "automatic budgeting stability, restraint, and control", previously implanted in Colombia, Chile and Ecuador, was the same as the one that was to be implemented in Poland, a country that even with Pilsudski at the helm, was famous for its political instability.

[6]: 205–206 [9]: 101 Though the loan was meant to lead to further ones that would strengthen Poland's financial system and promote its economic development, in mid-1928 foreign lending from Wall Street dried up as the Fed raised interest rates and a domestic speculative boom got underway.