## 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](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr03188)

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## Bibliographic details
- Published: November 11, 2003

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### Announcement
- 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.

### Meaning of Article VIII obligations
- 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.

### Membership, quota, and outstanding obligations
- 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.*

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## References

- [Republic of Uzbekistan and the IMF](http://www.imf.org/external/country/UZB/index.htm)
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- [PRESS CENTER](http://presscenter.imf.org/)
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_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr03188_