The present invention provides a safe biodegradable and bioabsorbable polymer having an extremely low metal catalyst content, while retaining the properties desired for a medical implant or the like and a process for producing the same. The present invention further provides a method for reducing the content of a metal catalyst in a biodegradable and absorbable polymer that can be applied on an industrial scale. A method for producing a biodegradable and bioabsorbable polymer having a metal catalyst content of less than 1 ppm in terms of a metal comprising the steps of (1) copolymerizing lactide and ε-caprolactone at a molar ratio ranging from 40/60 to 60/40 in the presence of the metal catalyst to produce a copolymer and (2) washing the copolymer with a mixed solvent comprising acetic acid and isopropanol at a volume ratio ranging from 25/75 to 45/55 at less than 40°C, and drying the copolymer. 13. A method for producing a biodegradable and bioabsorbable polymer having a metal catalyst content of less than 1 ppm in terms of a metal comprising the steps of (1) copolymerizing lactide and ε-caprolactone at a molar ratio ranging from 65/35 to 85/15 in the presence of the metal catalyst to produce a copolymer and (2) washing the copolymer with a mixed solvent comprising acetic acid and isopropanol at a volume ratio ranging from 45/55 to 55/45 at less than 40°C, and drying the copolymer.
