Press Release: The Republic of Uzbekistan Accepts Article VIII Obligations

IMF News, November 11, 2003

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Canonical URL: Press Release: The Republic of Uzbekistan Accepts Article VIII Obligations

Press Release No. 03/188
Date: November 11, 2003
Uzbekistan has accepted the obligations of Article VIII, Sections 2(a), 3, and 4 of the IMF Articles of Agreement.

IMF members accepting those obligations notably undertake to:
- refrain from imposing restrictions on the making of payments and transfers for current international transactions, and
- not to engage in, or permit any of their fiscal agencies to engage in, any discriminatory currency arrangements or multiple currency practices, except with IMF approval.
By accepting these obligations, Uzbekistan signals it will pursue economic policies intended to make restrictions on payments and transfers for current international transactions unnecessary and to contribute to a multilateral payments system free of restrictions.

Uzbekistan joined the Fund on September 1, 1992.
Uzbekistan's quota is SDR 275.60 million (equivalent to about US$396 million).
Uzbekistan's outstanding financial obligations to the IMF amounted to SDR 33.25 million (equivalent to about US$48 million) as of September 30, 2003.
Context: A total of 157 of the IMF's 184 members have now accepted the obligations of Article VIII, Sections 2(a), 3, and 4.
Note on quota: A member's quota in the IMF determines, in particular, the amount of its subscription, its voting weight, its access to IMF financing and its share of the allocation of SDRs.

Press Release No. 03/188, November 11, 2003.