Sunday, 26, May, 2024

Uzbekistan plans to reduce the economy's dependence on foreign exchange by developing derivatives market. This issue was raised on October 12 at a meeting between the Deputy Finance Minister Odilbek Isoqov and Treasury Director of the European Bank for Reconstruction and Development (EBRD) Axel van Nederwen.

The parties also discussed improving the efficiency of financial markets and introducing new capital market instruments, attracting loans in national currency and reducing the burden of payments in foreign currency.

At the end of the meeting, the parties signed an ISDA agreement, developed by the International Swaps and Derivatives Association for the first test swap operation in Uzbekistan.

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