Thursday, 29, September, 2022

Finances

The agency said that Uzbekistan has embarked on a rapid process of economic modernization and integration with the rest of the world, utilizing its strong net external and fiscal asset positions in the process.

A meeting with William McDonald, Deputy Assistant Secretary for Technical Assistance Policy at the U.S. Treasury Department took place at the Uzbek Ministry of Finance on 11 June, the ministry said in a statement.

Uzbekistan’s revised Tax Code will take effect from the next year, said Aziz Umirzakov, the deputy chief of the State Tax Committee (STC).

President Shavkat Mirziyoyev yesterday hosted the president of the European Bank for Reconstruction and Development (EBRD), Sumy Chakrabarti.

First Deputy Minister of Housing and Communal Services Mr. Dilshod Azimov and Country Director of Asian Development Bank’s (ADB) Uzbekistan Resident Mission Ms. Cindy Malvicini signed the memorandum of agreement to advise on public-private partnerships (PPPs) to improve municipal water infrastructure in Samarkand, Bukhara, Namangan and Karshi.

Raiffeisen Bank will organize banking summit on June 26 in Tashkent. According to Raiffeisen Bank, the summit is the evidence of growing interest in the world to the socio-economic reforms aimed at improving Uzbekistan’s financial and investment climate.

Joint meeting of the Senate committee on international relations, foreign economic relations, foreign investments and tourism and the committee for budget and economic reforms was held today.

The World Bank’s Board of Executive Directors approved a project that will help increase access to and improve the quality of early childhood education in Uzbekistan.

Uzbekistan plans to join the International Islamic Trade Finance Corporation (ISTFC) and the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC).

The Russian National Development Institute (VEB.RF) state corporation will provide 100 million euros to finance the deal for supply of Russian energy equipment to Uzbekistan, the head of the state corporation Igor Shuvalov.

A new project approved by the World Bank’s Board of Executive Directors last week will advance Uzbekistan’s transition into a market-oriented economy by creating more economic opportunities and better jobs for its citizens. The $33 million credit from the International Development Association (IDA) will support the Institutional Capacity Building Project.

The Board of the Uzbekistan Central Bank has agreed to issue a banking license to the Joint-Stock Commercial Tenge Bank.

Timur Ishmetov has been appointed First Deputy Finance Minister, a source in the government told the Tashkent Times. Previously since 2017, he worked as the first deputy chairman of the Central Bank.

The Asian Development Bank (ADB) has approved a $170 million loan to help improve Uzbekistan’s railway fleet through the procurement of 24 state-of-the-art electric locomotives. The new locomotives will enhance the performance of the railway system by offering cleaner, more reliable, and efficient passenger and freight transport services.

Managing Director of the International Monetary Fund (IMF) Christine Lagarde arrived on a visit to Uzbekistan. “Christine Lagarde is now holding talks at the Ministry of Finance,” the finance ministry said.

On May 6, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Uzbekistan.

Douglas Frye, senior loan specialist at the Export-Import Bank of the United States, will pay a working visit to Uzbekistan on May 15-19, the Foreign Ministry said.

The Central Bank of Uzbekistan and Visa signed a Memorandum of Understanding (MoU) for implementation of Uzbekistan’s digital payment infrastructure development programs, the Central Bank reported.

The Government of Uzbekistan issued a resolution “On measures to implement the project “Modernization of the water supply and sewage system of Khorezm province” with the participation of the European Bank for Reconstruction and Development”.

Fitch Ratings has affirmed Uzbekistan’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BB-’. The Outlook is Stable.