The Moscow Exchange plans to launch trading in three new currencies, one of them could be the Uzbek soum, sources told RBC.
Uzbekistan with UNDP support published its first impact report covering issuance of the first-ever public UZS-denominated sovereign bond. Uzbekistan Development Finance Bond Impact & Allocation Report describes how sovereign bond proceeds support sustainable development across a variety of sectors and how projects support the Sustainable Development Goals (SDGs).
Uzbekistan has attracted significant credit resources from Russia in recent years. Mainly from the banks that are now under the sanctions list - Gazprombank, VTB, VEB and others. Given that these banks are supposed to finance major economic projects in the country, there are risks that Uzbekistan could lose this funding due to sanctions.
The Ministry of Finance of Uzbekistan and the French Development Agency (FDA) on April 19 signed an agreement aimed at facilitating the country's transition to green economy, FDA said.
An International Monetary Fund (IMF) staff team led by Ron van Rooden visited Tashkent from March 31 to April 13, 2022, for discussions in the context of the 2022 Article IV consultation with Uzbekistan. At the conclusion of the mission, Mr. van Rooden issued the following statement:
Uztransgaz will draw $57.5 million of an additional loan from Gazprombank for 2 years to extend the term of the previously received loan by $300 million and refinance current liabilities. This follows from the information of the Single Corporate Information Portal of the Ministry of Finance.
The Central Bank posted the Amendments and additions to the Regulation on procedure and conditions of issuing permits for banking activities Resolution.
OTP Bank has asked Uzbekistan to delay a deal that would see Hungary’s largest lender purchase a majority stake in Ipoteka Bank, Chairman and CEO Sandor Csanyi told Bloomberg.
Financial sanctions will be applied from 1 September against companies for anticompetitive actions. This is provided for by the presidential decree on improving the business environment of April 8.
In Q1 of 2022 the Central Bank increased the volume of foreign exchange interventions by 19% compared to the same period last year, the Bank said in a report.
Uzbekistan’s growth is expected to slow in 2022 due to lower investment and remittances from the Russian Federation before rising slightly in 2023, while green financing can support the country’s transition to a greener economy, a new Asian Development Bank (ADB) report says.