Friday, 04, December, 2020

Finances

Uzbekistan’s total public debt at the end of 2021 is projected at US$ 28.4 billion, or 44.9% of GDP, the draft Citizens Budget 2021 said.

UzAuto Motors JSC and the London branch of Credit Suisse AG signed a EUR 150 million syndicated loan agreement, UzAuto Motors said.

Foreign companies have been hiredto help sell the government’s stake in Coca-Cola Bottlers Uzbekistan, Ltd (CCBU) (57.1%). The Assets Management Agency said that the process of selling the government’s stake in CCBU will be organized on the principles of transparency, in accordance with generally accepted international practice, not contrary to the Uzbek legislation.

PromSvyazBank has provided US$ 200 million in a revolving credit line to one of the world’s largest gold producers, the Navoi Mining and Metallurgical Combine of Uzbekistan to finance the company’s investment projects,” the bank said.

Uzbekistan priced Eurobonds for the second time, testing a recovery in global risk appetite with a sale from one of the few economies set to dodge recession this year.

At the ninth plenary session of the Senate, the report of the Cabinet of Ministers dedicated to the execution of the state program on the implementation of the Development Strategy in the nine months of 2020 was heard.

Uzbekistan is preparing to place a dual-tranche sovereign eurobonds denominated both in U.S. dollars and Uzbek soums on the London Stock Exchange, the Uzbekistan Ministry of Finance said.

The volume of money remittances to Uzbekistan in January-October 2020 topped US$ 4.88 billion. This is by US$ 148 million less to the same period last year, the Central Bank said in a report.

Uzbekistan’s gross gold and foreign exchange reserves as of November 1 topped US$ 33.3 billion, decreasing by $ 105 million to last month, the Central Bank said in a report.

Uzbekistan's Finance Ministry said Monday the country will issue more Eurobonds. Citi Bank and JP Morgan were appointed as the global coordinator and joint bookrunners, while Societe Generale, VTB Capital and Gazprombank - joint leading managers and bookrunners, and White & Case as the legal consultant, the ministry added.