Thursday, 21, November, 2024
Thursday, 21, November, 2024
The Asian Development Bank (ADB) has approved a $250 million in a loan to support the Government of Uzbekistan’s efforts to strengthen the institutional framework for the climate transition and accelerate climate change mitigation action.
Governor of the Central Bank Mamarizo Nurmuratov commented the adoption of restrictions on online loans in Uzbekistan at a press conference on Firday.
According to the main scenario projections of the Central Bank, the volume of remittances to Uzbekistan will grow by 25-30% this year, by 9-11% in 2025, by 9-12% in 2026, and by 10-15% in 2027. In recent years, the depreciation of the ruble exchange rate has been cited as the main risk affecting the decrease in the volume of transfers.
The Central Bank at its BOD meeting today decided to keep the interest rate at 13.5% with an aim to curb inflation and achieve its target at 5% in the medium term, the press service of the Central Bank said in a report.
In January-September 2024, the volume of money remittances to Uzbekistan increased by 34.8%, to reach $11.62 billion (in nine months of 2023, it stood at $8.4 billion), the governor of the Central Bank Mamarizo Nurmuratov announced at a press conference today.
Share of cash in the total money supply decreased even more in January-September, the Central Bank said in a review on cash circulation.
Economic growth in the developing economies of the Europe and Central Asia region is stabilizing after a series of crises but at levels well below the early-2000s, says the World Bank’s Economic Update for the region, released today.
The World Bank’s Board of Executive Directors approved a financial package of $800 million in highly concessional loans to support Uzbekistan’s reform agenda geared towards advancing the country’s transition to an inclusive and resilient market economy.
The Central Bank has accredited a representative office of the Export-Import Bank of China, the Bank’s press service said.
President Shavkat Mirziyoyev today landed in Samarkand to attend the annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), the presidential press service said.
The Asian Development Bank (ADB) today approved a $300 million sector development program to support the Government of Uzbekistan’s efforts to expand access to finance for unbanked and underbanked microenterprises, fostering sustainable and inclusive growth in the country.
The Asian Infrastructure Investment Bank (AIIB) will hold its Ninth Annual Meeting of the Board of Governors, themed “Building Resilient Infrastructure for All,” on September 25-26, 2024, in Samarkand, Uzbekistan. It will be the bank's first meeting in Central Asia.
The European Bank for Reconstruction and Development (EBRD) is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant.
The Asian Development Bank (ADB) launched a new country partnership strategy for Uzbekistan covering 2024−2028 that will support the country’s reforms to transform into a green and inclusive economy, the bank said.
Fitch Ratings has affirmed Uzbekistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary.
The Asian Development Bank (ADB) has approved two policy-based loans totaling $400 million that support the Government of Uzbekistan’s initiatives to enhance the country’s financial markets and develop a sustainable, market-led power sector.
The Central Bank set a new exchange rate of foreign currencies to the Uzbek soum from July 31. The US dollar to soum exchange rate has fallen by almost 93 soums over three trading sessions, to 12,345.12 soums, which is the lowest rate since March 12 (12,534.01 soums).
The BOD of the Central Bank at its July 25, 2024 to cut the interest rate by 0.5 percent to 13.5 percent per annum, the Bank said today.
The State Asset Management Agency (SAMA) announced the start of the privatization of the National Interbank Processing Center (Humo). The 100% government’s stake will be sold through a Public Invitation to Negotiatein three stages.
The BOD of the Central Bank decided to revoke the licenses of two companies in response to their requests, the bank's press service said. The license of the private Qulay Pul payment system, which operated under the United Fintech brand, has been revoked. On November 27, 2021, the company received a license and became the third payment system operator after Humo and Uzcard.