IMF Staff Country Reports

Republic of Uzbekistan : Requests for Disbursement under the Rapid Credit Facility and Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Uzbekistan

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

May 19, 2020

Electronic Access:

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Summary:

The COVID-19 pandemic has severely impacted Uzbekistan. Growth is projected to slow to 1.5 percent in 2020, while lower exports and remittances are expected to widen the current account deficit to almost 10 percent of GDP. Addressing the external shock and the domestic impact of COVID-19 is expected to require additional external financing of about US$ 4 billion (7 percent of GDP). At the same time, weaker than expected revenues and additional crisis-related expenditures are expected to widen the fiscal deficit from near balance to about 4 percent of GDP. Uncertainty about the severity and length of the global downturn and the impact on Uzbekistan’s economy is large.

Series:

Country Report No. 2020/171

Subject:

Economic reforms External debt External sector Financial and Monetary Sector Fiscal policy Rapid Credit Facility (RCF)