Uzbekistan: Background Paper and Statistical Appendix
March 14, 1995
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This Background Paper and Statistical Appendix highlights that starting in 1994, financial policies in Uzbekistan were tightened so as to reduce inflation and stabilize the exchange rate in anticipation of the introduction of the new national currency, the sum. The Central Bank of Uzbekistan raised the interest rate on its rediscount credits several times and credit to loss-making state enterprises was curtailed. The average monthly rate of price increase fell from more than 22 percent in the first half of the year to less than 2 percent in the third quarter, partly in reflection of seasonal factors.
Subject: Agricultural commodities, Commodities, Credit, Currencies, Exchange rates, Exports, Foreign exchange, International trade, Money
Keywords: Agricultural commodities, b. enterprise reform, balance of payments, Baltics, Central Asia, consumer goods, CR, Currencies, Eastern Europe, exchange rate, Exchange rates, Exports, ISCR, monopoly enterprise, savings bank, trade balance, trade surplus, trading partner, U.S. dollar
Pages:
101
Volume:
1995
DOI:
Issue:
023
Series:
Country Report No. 1995/023
Stock No:
1UZBEA0011995
ISBN:
9781451839753
ISSN:
1934-7685
Notes
This background paper and statistical appendix on the Republic of Uzbekistan were prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
