The ministry also set a lower cap of on foreign borrowing
TBC Uzbekistan expanded its customer base to 22 mln
Other active buyers included Indonesia, Turkey, the Czech Republic
The fiscal deficit is forecast at 3% of GDP
Russian nationals based in the EU were unable to top up their Revolut accounts
Fitch highlights stability risks and reform priorities for Uzbekistan’s banking sector
Deputy Chairman of the regulator Abror Mirzo Olimov explained the country’s reserve management strategy
The reforms also include a special regime for using tokens as a means of payment
The project is expected to help consolidate high-quality mortgage portfolios
Interventions should focus on market functioning
Export-focused firms remain the most productive in the region
The fund also praised Uzbekistan’s progress towards joining the WTO
Growth was supported by increased investment and strong consumer demand
Value added tax will provide the largest share of income
GDP is expected to grow by 7% this year
Nvidia joins major investors as Revolut hits $75bn valuation in secondary share sale
S&P lifts rating to ‘BB’ as reforms, strong growth and gold reserves strengthen Uzbekistan’s outlook
The bank now provides consultations in 12 languages
Analysts highlight Zcash, Pi Coin and Tensor as potential outperformers if Bitcoin slides further
During this period, both assets and capital of these institutions increased
The Central Bank of Uzbekistan sold more gold than it purchased