Friday, 18, October, 2019

Finances

Uzbek soum suffered its worst one-week fall on Friday since the authorities devaluated currency in September 2017. The soum fell by 3 percentage points against the dollar, to as low as 8,882 UZS, breaking a period of relative calm in Uzbek emerging markets so far this year.

Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) are planning to implement joint projects in Afghanistan, the Uzbek investment minister Sardor Umurzakov said Tuesday.

Mayor of Tashkent city Jahongir Ortiqhujaev and Country Director of Asian Development Bank’s (ADB) Uzbekistan Resident Mission Ms. Cindy Malvicini signed the memorandum of agreement to advise on a public-private partnerships (PPPs) to improve district heating services in Tashkent city.

The Eurasian Development Bank (EDB) is considering US$ 2 billion worth of about 70 projects, said Amangeldy Isenov, deputy chairman of the bank.

World Bank Vice President for Europe and Central Asia, Cyril Muller, commended the Government of Uzbekistan for accelerating social and economic reforms to improve people’s living standards. Visiting Uzbekistan on July 18-19, Mr. Muller met with the country’s President and senior government and parliamentary officials to discuss new and existing areas of World Bank financial and technical assistance.

On July 17, 2019, the World Bank’s Chief Suspension and Debarment Officer (the “SDO”) imposed a three-year debarment with conditional release on OOO Fides Solutions (“Fides Solutions”) and Mr. Ravshan Rizametov (“Mr. Rizametov”) pursuant to a Notice of Uncontested Sanctions Proceedings in Sanctions Case No. 588.

With trade wars and sluggish growth making goldbugs of central bankers around the world, one country wants to buck the trend.

Uzbekistan may tap global debt markets with a second dollar-denominated Eurobond this year after investors lapped up a debut sale in February.

First judicial success in the case of ill-gotten property. The final decision of the French justice, on Tuesday morning, paves the way for a return to Uzbekistan the property owned in France by the daughter of the late President Islam Karimov. The culmination of a long judicial investigation, unique in its kind, RFI said.

The World Bank’s Board of Executive Directors today approved a $50 million credit from the International Development Association (IDA) for the Strengthening the Social Protection System Project.