Tuesday, 24, April, 2018

Finances

Managing Director of the International Monetary Fund (IMF) Christine Lagarde expressed her support to Uzbekistan's efforts to reform the economy.

The President of Uzbekistan by his resolution of July 13 dismissed Tatyana Guskova from the post of First deputy finance minister due to retirement, the Presidency website reported.

As part of economic cooperation, the Chairman of the Governing Board of the Swiss National Bank, Thomas Jordan has arrived in Uzbekistan.

At Uzbek Foreign Ministry was held a teleconference with experts of the European Investment Bank (EIB), the Uzbek Foreign Ministry said.

On 5 July 2017, the Asian Development Bank (ADB) and the Invest Finance Bank (InFin Bank) signed an agreement enabling cooperation to support trade in Uzbekistan through ADB’s Trade Finance Program (TFP).

The World Bank’s Board of Executive Directors approved allocation of two loans for US$294.9 million to Uzbekistan for implementation of water resource management and livestock sector development projects.

President of Uzbekistan on Tuesday signed a decree appointing Abdukhafiz Karimov as Deputy Finance Minister. Abdukhafiz Karimov will oversee the issues of financing the social sphere, science, government bodies and the Off-Budget Pension Fund.

Starting from June 28, 2017, the Central Bank of Uzbekistan (CBU) will raise the interest rate by 5 percentage points to 14% per annum, In a statement, the CBU announced.

President Shavkat Mirziyoyev signed a decree on June 16 increasing the government’s stake in Uzbek banks by 500 million US dollars to be funded by the Reconstruction and Development Fund of Uzbekistan (FRDU). The decree is aimed at "maintaining the level of capitalization of banks, help stabilize the e financial stability of the banking system and expanding their participation in financing of projects and lending to entrepreneurship".

The Asian Development Bank (ADB) has approved a results-based loan of $500 million to support the construction of up to 29,000 new affordable housing units in nine regions across Uzbekistan as part of the State Affordable Rural Housing Program.