IMF Urges Uzbekistan to Accelerate Privatisation of State‑Owned Banks

The International Monetary Fund suggests Uzbekistan to speed up the sale of state‑owned banks. The Fund says private ownership will boost financial stability and use resources better.

In its post‑mission note, the IMF advises Tashkent to hold competitive tenders open only to qualified investors. It also calls for stronger laws, greater transparency and firm protection of shareholder rights. These steps should lift the sale price of state assets.

The Fund warns against keeping «systemically important» lenders under state control. Such a policy, it argues, would raise fiscal costs and financial risks.

Stricter oversight remains essential. The IMF urges the adoption of global supervision standards, sharper tools to gauge systemic threats and credible options to rescue failing banks.

Rapid growth in micro‑credit adds to the concerns. The Fund tells lenders to check borrowers’ creditworthiness carefully and presses the Central Bank to tighten risk‑based supervision.