Tuesday, 26, May, 2020

Finances

The President Mirziyoyev by his Nov. 30 decree transformed the National Bank for Foreign Economic Affairs (NBU) from unitary enterprise into a joint-stock company.

On October 9, President Shavkat Mirziyoyev signed a decree on Measures to improve the financial stability of Uzbekistan’s banking sector.

The Capital Market Development Agency (CMDA) prepared a bill proposing to lift the restrictions for issuing corporate bonds by limited liability companies.

The Asian Development Bank (ADB) has approved $200 million in loans that will help the Government of Uzbekistan reform its housing finance programs and provide families with more affordable mortgage products.

The Asian Development Bank (ADB) will issue Uzbek soum-denominated bonds, said the chairman of the Central Bank, Mamarizo Nurmuratov.

The Asian Development Bank (ADB) has approved a $300 million policy-based loan to further strengthen economic management in Uzbekistan, which should lead to greater macroeconomic stability and sustained economic growth.

The Uzbekistan interest rate will be cut, the Chair of the Central Bank, Mamarizo Nurmurodov said at a press conference on the main axes of monetary policy for 2020-2022.

The Uzbekistan’s GDP’s projected real growth in 2020 will be at 5.2–5.5%, while in 2021–2022 - at around 5.5–5.8%, the Central Bank of Uzbekistan said in a report on the main axes of monetary policies for 2020 and 2021−2022.

The President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti is planning to visit Uzbekistan in the first half of 2020 to discuss the expansion of the bank's activities in the country, the EBRD chief said at a meeting with the Uzbekistan Ambassador to the United Kingdom, Said Rustamov, the Foreign Ministry said.

Uzbekistan and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement worth US$ 246.1 million for three projects on Wednesday. The document was signed following an interim session of the Council of Foreign Investors under the President, which was held in Tashkent, the Ministry of Investments and Foreign Trade said.