Republic of Uzbekistan: Selected Issues
IMF Staff Country Reports, June 24, 2025
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- Republic of Uzbekistan: Selected Issues
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Bibliographic details
- Published: June 24, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229014939.002
Executive summary and objective
- The paper compares the speed and sequencing of Uzbekistan’s transition reforms with those of other transition countries to inform Uzbekistan’s reform process going forward.
- It draws on academic literature and transition country experiences to identify strengths and weaknesses to guide reform implementation in Uzbekistan.
Key areas of progress
- Macroeconomic stabilization.
- Trade and exchange rate liberalization.
- Price liberalization.
- Small-scale privatization.
- The paper notes that the "speed and sequencing of transition reforms are similar to that of other successful transition economies" in the areas above.
Main challenges identified
- Reform and privatization of large state-owned enterprises (SOEs).
- Establishment of a competitive environment with easy market entry and exit.
- Reduction and transformation of the role of the state in the economy.
Policy recommendations and priorities going forward
- Entrench macroeconomic stability.
- Complete price and trade liberalization.
- Harden budget constraints for state-owned enterprises (SOEs) and state-owned commercial banks (SOCBs).
- Strengthen SOE and SOCB corporate governance.
- Accelerate SOE and SOCB privatization.
- Refocus the state’s role to be an enabler of an environment conducive to private sector development.
Document metadata (selected)
- Publication date: June 24, 2025
- Pages: 41
- Issue: 144
- Series: Country Report No. 2025/144
Republic of Uzbekistan: Selected Issues (IMF Staff Country Report, June 24, 2025).
Content in this bundle
- Republic of Uzbekistan: Selected Issues; IMF Country Report No. 25/144; May 30, 2025