Thursday, 08, December, 2022

Finances

Exchange traded funds (ETF), including ETFs for gold, will be launched in Uzbekistan, announced the Deputy Minister of Finance Odilbek Isakov on September 9 at the III international conference entitled: Uzbekistan's Capital Market.

The Central Bank kept interest rate at 14% per annum in order to achieve a balance between reducing inflation to 10% by the end of the year, the Central Bank said.

The Presidential signed the Ratification of an International Treaty Decree approving the Agreement on the establishment of an Uzbek-Tajik investment company, the Ministry of Justice said.

Uzbekistan’s public debt as of July 1, 2021 rose to US$ 24.2 billion, or 38.5% of the gross domestic product (GDP), follows from the report of the Ministry of Finance (PDF).

The Cabinet of Ministers issued the Measures to implement the project "Emergency support for businesses affected by the global coronavirus pandemic in Uzbekistan resolution with the participation of the European Investment Bank".

On Monday, August 23, the largest ever allocation of Special Drawing Rights (SDR) among member countries of the International Monetary Fund (IMF) came into уааусе at SDR 456 billion, which is equivalent to US$ 650 billion. Uzbekistan received about US$ 746 million.

The Islamic Development Bank (IsDB) Group will hold its 2021 Annual Meetings of its Boards of Governors from 31 st August to 4th September 2021 in the beautiful city of Tashkent, Republic of Uzbekistan, at the Tashkent City Congress Center, to discuss development issues and institutional matters pertaining to their Member Countries.

The volume of Uzbekistan’s gross gold and forex reserves as of August 1 topped US$ 35.11 billion, recording a US$ 965 million increased over the month, follows from the data of the Central Bank.

The Cabinet of Ministers issued the Measures to implement the project “Vital Infrastructure Support Program: Support for the Electricity Industry” Resolution.

The Khalq Bank has suspended lending due to an increase in the share of non-performing loans, the bank said in a statement.

The International Monetary Fund (IMF) has approved the allocation of a record US$ 650 billion to restore the world economy, Dunyo news agency reported.

At its July 29 meeting held, the Board of the Central Bank decided to keep the interest rate unchanged, at 14%, expanding the interest rate corridor to +/- 2 percentage points in order to ensure a balance between achieving the inflation forecast for this year and supporting economic activity amid growing inflationary risks and aggravation of the situation with the pandemic, the Central Bank said in a statement.

The Ministry for Support of Mahalla and Family on July 27 signed a grant agreement with international partners to implement the project "Expanding Economic Opportunities for Rural Women in Uzbekistan", the Minsitry said in a statement.

The Uzbek Ministry of Finance placed a dual-tranche sovereign eurobonds worth US$ 870 million denominated both in U.S. dollars and Uzbek soums on the London Stock Exchange, the Ministry said.

The Uzbek Ministry of Finance is preparing to place a dual-tranche sovereign eurobonds denominated both in U.S. dollars and Uzbek soums total worth of US$ 870 million on the London Stock Exchange, the Deputy Finance Minister Odilbek Isakov said today.

The volume of Uzbekistan’s gross gold and foreign exchange reserves as of July 1 topped to U$ 34.14 billion, recording a decrease of U$ 1.37 billion over the month, the Central Bank said in a report.

The Finance Ministry has announced that the next sovereign international bond will be listed on the London Stock Exchange, and added the cash from these international bonds in the national currency will be used to finance the Sustainable Development Goals.

The share of non-performing loans (NPL) in Uzbekistan banks as of June 1 increased to 4.7% of the total loans, the Central Bank said in a report.

The European Bank for Reconstruction and Development (EBRD) is increasing its support for small and medium-sized enterprises in Uzbekistan together with its long-term financial intermediary, Hamkorbank. The two institutions will help to finance the development of the dairy sector in the Khorezm region, responsible for the production of nearly 10 per cent of national milk output.

International Finance Corporation and the Government of Uzbekistan signed an agreement to support the modernization of the chemical industry and fertilizer production.