Thursday, 20, June, 2019

Finances

Moody's has today assigned a first-time long-term issuer rating to the Government of Uzbekistan at B1. The outlook is stable. In addition, Moody's has also today assigned a provisional rating of (P) B1 to Government of Uzbekistan's forthcoming medium-term note program and a B1 rating to the planned drawdown from the program.

Asian Development Bank’s (ADB) Director General for Central and West Asia Department Mr. Werner Liepach visited Uzbekistan from 7 to 11 February.

S&P Global Ratings assigned its ‘BB-’ long-term foreign currency rating to the proposed benchmark-size U.S. dollar-denominated senior unsecured notes to be issued by Uzbekistan (BB-/Stable/B).

Uzbekistan will hold a “road show” (meeting with investors) in the cities of New York, Boston (USA) and London (United Kingdom) from 7 to 14 February 2019.

The Asian Development Bank (ADB) has approved a $2 million regional technical assistance grant to support the development of railways in Central Asia Regional Economic Cooperation (CAREC) countries.

The Senate yesterday approved the specimen and design of the new 100 thousand soum denomination bill, thus raising the highest note from 50,000 soums, the Central Bank said in its telegram channel.

Power supply in south Uzbekistan will be significantly improved thanks to the construction of the additional generation capacity at existing Talimarjan power plant (TPP) with the help of a up to US$ 240 million sovereign loan provided by the EBRD to JSC Uzbekenergo. The project will be the largest EBRD  investment in Uzbekistan to date.

The Tax Committee of Uzbekistan has recommended employers to increase the pay of employees, the Committee said on its Facebook page.

The Asian Development Bank (ADB) has approved a US$4.5 million cluster regional technical assistance grant to support an increase in regional power trade in Central Asia Power System (CAPS) and explore potential reconnection of Turkmenistan to CAPS and its further expansion to Afghanistan.

On 21 December 2018, S&P Global Ratings assigned its ‘BB-/B’ long- and short-term foreign and local currency sovereign credit ratings to Uzbekistan. The outlook is stable. The transfer and convertibility (T&C) assessment is ‘BB-’.