Monday, 19, August, 2019

Finances

Uzbekistan is making strong progress implementing challenging economic reforms to support growth and build opportunities for citizens, says Cyril Muller, World Bank Vice-President for Europe and Central Asia. Visiting Uzbekistan on 26-27 February, Mr. Muller reaffirmed the World Bank’s continued support for the country’s transformation agenda.

According to the Uzbek Embassy to U.S., the Vice-President of the World Bank (WB) for Europe and Central Asia, Cyril Muller is visiting Uzbekistan on February 26-28, the Foreign Ministry said.

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.

Starting from February 25, 2019, the Central Bank of Uzbekistan will issue a new 100,000 soum banknote, СBU said in a statement.

Uzbekistan plans to cut the gold’s share in its gold reserves and purchase U.S. Treasury securities ("Treasuries") This was by the Uzbekistan Finance Minister Jamshid Kuchkarov told the Reuters.

Uzbekistan is selling $1 billion of Eurobonds in its first foray into international debt markets as the ex-Soviet republic opens its economy to foreign investment after more than two decades of isolation.

Uzbekistan plans to follow up an upcoming $1 billion international bond market debut with regular debt sales while the country’s banks are also expected to seek funds overseas, fund managers said on Tuesday.

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).