Saturday, 23, March, 2019

On 20 February 2019, in the Ministry of Finance, the mission headed by Albert Eger, Chief Financial Officer of the International Monetary Fund (IMF) held a meeting with government officials.

The focus of the discussion was directed to the IMF’s recommendations for country for 2019 in accordance with Article IV of the IMF’s Articles of Agreement.

The articles of the IMF contribute to the development of international monetary cooperation through a permanent mechanism to facilitate international trade and consultation and cooperation on international monetary issues and, at the same time, ensure currency stability as well as to discuss and resolve a number of similar issues. The IMF carries out a yearly exchange of consultations with the member states. Throughout these relations, known as the "Article IV Consultation", the IMF seeks to assess the economic viability of each country and prevent further financial problems.

In the scope of the Article IV, macroeconomic indicators, fiscal policy and structural adjustments were considered. In addition, parties discussed the implementation of policies for 2018 - 2019, wage policies in the budget sector, fiscal policy and additional expenditures for 2019, new tax policy in 2019, pension and labor policies in and attracting direct investments.

Mr. Albert Eger emphasized Finance Minister's London visit as positive. According to his opinion, applied policies are not only a correct and effective approach, but also it provides a number of priorities for the future roadmap. He also mentioned opinions of investor on this matter: "Investors positively assess reforms in the country, including liberalization of the monetary regime, relevant reforms related to Finance and Economy Ministries, as well as tax reform and other reforms."

The IMF mission is going to stay in Tashkent until 5 March. Accordingly, state officials agreed to hold a number of meetings to discuss specific issues within this period.

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