IMF Managing Director supports Uzbekistan’s efforts to reform economy

Managing Director of the International Monetary Fund (IMF) Christine Lagarde expressed her support to efforts of Uzbekistan in reforming economy.
A delegation of Uzbekistan visited the headquarters of IMF in Washington DC on 4-9 July. The delegation included representatives of the Central Bank, the Ministry of Finance and the Fund for Reconstruction and Development of Uzbekistan.

The purpose of the visit was to provide objective information to the IMF specialists on the course of economic reforms in Uzbekistan within the framework of the Strategy for Further Development of the Republic of Uzbekistan in 2017-2021, as well as an exchange of views on the prospects for further liberalization of the republic’s currency system.

Highly appreciating the results of these negotiations between Uzbekistan and the IMF, Managing Director of the IMF Christine Lagarde sent a letter to the President of Uzbekistan Shavkat Mirziyoyev.

“I very much welcome the efforts that you and your economic team have been making to reform the Uzbek economy to meet the growing challenges that you face in improving economic growth and living standards. Let me assure you that we stand ready to support your reform efforts through technical assistance and policy advice,” the message reads.

“I was particularly pleased to hear that a first round of brainstorming on foreign exchange reform options with your team took place here at headquarter a few days ago. I am also glad that a staff team will visit Tashkent soon to continue their work,” she said.

“I am sure that your team and Fund staff could also have broader discussions soon on how to support the liberalization of the foreign exchange system with other reforms to enhance Uzbekistan’s investment climate, including measures to improve economic statistics so that policy makers and investors have a better basis for making informed decisions,” Christine Lagarde said.

“Mr. President, I am confident that Uzbekistan would benefit greatly from the envisaged reforms, and, again, let me assure you that we will support you to the best of our abilities”, the message concludes.