Thursday, 24, September, 2020

Finances

Uzbekistan’s external debt topped US$ 27.6 billion as of July 1, 2020, having increased by 12.7% or by US$ 3.1 billion YTD, the Central Bank said in a report.

An International Monetary Fund mission, led by Mr. Ron van Rooden, conducted a virtual staff visit to Uzbekistan during August 24–September 17, 2020, to discuss economic developments and policies. At the end of the mission, Mr. van Rooden issued the following statement:

The European Bank for Reconstruction and Development (EBRD) is scaling up its support to small and medium-sized enterprises (SMEs) in Uzbekistan, where they create about 50 per cent of GDP and employ almost 80 per cent of the workforce.

Small and medium-sized enterprises (SMEs) in Uzbekistan as well as domestic companies active in international trade will have additional funds available for their operations, thanks to a new financing programme offered by the European Bank for Reconstruction and Development (EBRD) to Bank Ipak Yuli, the country’s major privately owned lender.

The Board of the Central Bank on Thursday cut the interest rate by 1 percentage point to 14% per annum. This decision was due to the projected slowdown in the inflation, to the need to maintain positive real interest rates in the economy, as well as to achieve a balance between the inflation target and the maintenance of economic activity in the light of the pandemic,” the regulator noted.

The Asian Development Bank (ADB) and the United Nations Children’s Fund (UNICEF) delivered to the Ministry of Health of Uzbekistan another batch of supply worth $952,000.

After the lockdown measures were relaxed, the flow of funds to banks increased, the Deputy Chairman of the Central Bank Behzod Khamroev said at a press briefing Monday, adding that cash flow could catch pre-lockdown figures in the next 1-2 months.

An agreement was signed between the Central Bank of Uzbekistan and the Central Bank of the Republic of Korea (Bank of Korea) on Knowledge Partnership Program, the Uzbekistan Central Bank said.

The Uzbek Capital Market Development Agency issued an advisory license to Deloitte representative office in Uzbekistan.

The National Interbank Processing Center LLC (NIPC - Uzcard brand) has once again changed the ownership, it follows from the data of the Unified State Register of Enterprises and Organizations.