S&P Global Ratings affirmed its long- and short-term foreign and local currency ratings on Uzbekistan at ‘BB-/B’. The outlook remains negative.
The Russian Direct Investment Fund (RDIF), Russia’s sovereign fund, proposed to Uzbek partners to set up joint Uzbek-Russian investment fund, the First Deputy Director General of RDIF Anatoly Braverman said Friday at a round table with the participation of businesses of the two countries.
Gulnara Karimova, the daughter of late Uzbek president Islam Karimov, won a court victory in Switzerland that allows her to try to unblock $350 million in frozen assets in the latest chapter of a almost $1 billion corruption scandal.
Uzbekistan’s total public debt at the end of 2021 is projected at US$ 28.4 billion, or 44.9% of GDP, the draft Citizens Budget 2021 said.
UzAuto Motors JSC and the London branch of Credit Suisse AG signed a EUR 150 million syndicated loan agreement, UzAuto Motors said.
Foreign companies have been hiredto help sell the government’s stake in Coca-Cola Bottlers Uzbekistan, Ltd (CCBU) (57.1%). The Assets Management Agency said that the process of selling the government’s stake in CCBU will be organized on the principles of transparency, in accordance with generally accepted international practice, not contrary to the Uzbek legislation.
PromSvyazBank has provided US$ 200 million in a revolving credit line to one of the world’s largest gold producers, the Navoi Mining and Metallurgical Combine of Uzbekistan to finance the company’s investment projects,” the bank said.
Uzbekistan priced Eurobonds for the second time, testing a recovery in global risk appetite with a sale from one of the few economies set to dodge recession this year.
At the ninth plenary session of the Senate, the report of the Cabinet of Ministers dedicated to the execution of the state program on the implementation of the Development Strategy in the nine months of 2020 was heard.
Uzbekistan is preparing to place a dual-tranche sovereign eurobonds denominated both in U.S. dollars and Uzbek soums on the London Stock Exchange, the Uzbekistan Ministry of Finance said.