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Middle East and Central Asia > Uzbekistan, Republic of

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Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-National Accounts Statistics Mission
International Monetary Fund. Statistics Dept.
This technical assistance (TA) report on Republic of Uzbekistan discusses summary of mission outcomes and priority recommendations of National Accounts mission. The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) conducted a TA mission on source data for national accounts. The main purpose of the mission was to assist the Statistics Agency (SA) of Uzbekistan in improving source data for compiling annual and quarterly gross domestic product (GDP). The national accounts team has made very good progress in compiling and disseminating quarterly national accounts aggregates on a discrete basis, which are required for subscription to the IMF’s Special Data Dissemination Standard (SDDS). The mission reviewed and discussed source data collection issues for all GDP activities. The mission reviewed the compilation of some GDP aggregates. The methods for quarterly GDP discrete estimates follow international best practices. During the meeting with senior management, it has been agreed that all improvements suggested to source data would be taken into account and implemented. Moreover, cooperation with tax authorities should be sought to increase data coverage for small and micro units, as well as individual producers.
Keywords:
GDP; GDP by production; source data; statistical questionnaires; trade margins.; World Bank staff; IMF executive directors; staff team of the International Monetary Fund; Compialtion issue; SA business statistics division; Data collection; Special Data Dissemination Standard (SDDS); Consumer price indexes; Industrial production
Cover IMF Working Papers
Reported Social Unrest Index: August 2023 Update
Mr. Philip Barrett
and
Euihyun Bae
This paper is the second update of the Reported Social Unrest Index (Barrett et al. 2022), outlining developments in global social unrest since March 2022. It shows that the fraction of countries experiencing major social unrest events has been stable. Reasons for social unrest can be broadly categorized as stemming from sdebate over constitutional issues, protests connected to specific policies, and other generalized disorder.
Keywords:
attempts to proxy; fraction of country; copyright page; update of the Reported Social Unrest Index; IMF surveillance; Pension spending; Machine learning; Pension reform; Stock markets; COVID-19; Global
Cover IMF Staff Country Reports
Republic of Uzbekistan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Uzbekistan
International Monetary Fund. Middle East and Central Asia Dept.
Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies and the role of the state is still large. Uzbekistan weathered the pandemic relatively well. Strong fundamentals, ample policy buffers, and high gold prices allowed the authorities to take strong actions to mitigate the impact of the pandemic and growth accelerated to 7.4 percent in 2021.
Keywords:
Uzbek soum; authorities' effort; inflation expectation; Uzbek authorities; policy lending; Public and publicly-guaranteed external debt; Income; Global
Cover IMF Staff Country Reports
Republic of Uzbekistan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Uzbekistan
International Monetary Fund. Middle East and Central Asia Dept.
Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies and the role of the state is still large. Uzbekistan weathered the pandemic relatively well. Strong fundamentals, ample policy buffers, and high gold prices allowed the authorities to take strong actions to mitigate the impact of the pandemic and growth accelerated to 7.4 percent in 2021.
Keywords:
Uzbek soum; authorities' effort; inflation expectation; Uzbek authorities; policy lending; Public and publicly-guaranteed external debt; Income; Global
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-Multi-Topic Statistics Diagnostic
International Monetary Fund. Statistics Dept.
At the request of the authorities, a remote multi-topic statistics diagnostic mission for Uzbekistan took place during March 1–19, 2021.1 In close cooperation with officials of the State Committee of the Republic of Uzbekistan on Statistics (SSC), the Central Bank of Uzbekistan (CBU), and the Ministry of Finance (MOF), the mission (i) assessed the collection, compilation, and dissemination practices for the datasets covered by the mission; (ii) identified key high-level priorities and developed a medium-term action plan for statistical improvement and the associated capacity development (CD) needs; and (iii) developed a roadmap for subscription to the Special Data Dissemination Standard (SDDS). The mission covered the following topics: national accounts (NA) and prices, 2 government finance statistics (GFS) including public debt, external sector statistics (ESS), monetary and financial statistics (MFS), and SDDS subscription.
Keywords:
C. government finance Statistics; transparency Division; public sector debt Statistics; IMF's Statistics Department; balance of payments Department; Government finance statistics; External sector statistics; Special Data Dissemination Standard (SDDS); Monetary statistics; Commercial banks; Central Asia; Global
Cover IMF Working Papers
Remittances in Russia and Caucasus and Central Asia: the Gravity Model
Mr. Tigran Poghosyan
Remitances are an important source of external financing in low- and middle-income countries. This paper uses the gravity model to analyze remittance flows in Russia and Caucasus and Central Asia (CCA) countries. Standard gravity determinants, such as GDP in sending and recieiving countries, bilateral distance, existence of common borders and common official language, fit remittance flows well. Remittances also react to inflation and exchange rate movements in recipient countries to sustain their purchasing power. In line with the altruism hypothesis, remittances flow to countries with higher age dependency ratio. Remittances are countercyclical and help stabilize outputs in recipient countries. However, global shocks resulting in sharp output losses of sending countries would lead to large volatility and decline of remittance inflows in recipient countries. The results of the analysis can be used to assess the impact of the COVID-19 shock on projected remittance flows into CCA.
Keywords:
WP; remittance; country; remittance flow; international remittances; migration; gravity model; recipient country; country j; bilateral remittance; pair level; sending country; Remittances; Gravity models; Oil prices; Exchange rates; Outward remittances; Central Asia and the Caucasus; Global
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-External Sector Statistics Mission (October 15-26-, 2018)
International Monetary Fund. Statistics Dept.
The contents of this report constitute technical advice provided by the staff of the IMF to the authorities of the Republic of Uzbekistan in response to their request for technical assistance. The main objective of the mission was to assist the Central Bank of the Republic of Uzbekistan (CBU) in improving the collection of statistical data on the balance of payments (BOP), including the adoption of an international transactions reporting system, and to assess progress in implementing the medium-term program for further development of External sector statistics. Along with the successes, the mission noted several shortages in the BOP compilation system. The transfer of the BOP compilation function from the Ministry of the Economy to the CBU, and the transition to Balance of Payments and International Investment Position Manual, sixth edition standards, have led to a data gap between the BOP compiled by two institutions. It is recommended to update the methodology for calculating the currency and deposits of households component per the mission’s recommendations, considering all possible inflows and outflows of foreign currency in cash by individuals.
Keywords:
ISCR; CR; trial BOP; BOP transaction; CBU balance; CBU BOP; remove CBU deposit; transaction code; net profit; foreign currency; central bank; CBU estimate; CBU methodology; CBU reporting; CBU liability; reinvested earnings; CBU trial BOP; CBU requests data; Wages; Currencies; Income; External sector statistics; Middle East and Central Asia; Western Europe
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-External Sector Statistics Mission (September 30-October 11, 2010)
International Monetary Fund. Statistics Dept.
The contents of this report constitute technical advice provided by the staff of the IMF to the authorities of the Republic of Uzbekistan in response to their request for technical assistance. The main objective of the mission was to assist the Central Bank of the Republic of Uzbekistan in improving the collection, processing, and dissemination of balance of payments, international investment position, and gross external debt statistical data, including improvement of the International Transactions Reporting System, as well as implementation of a medium-term program for further development. After the Republic of Uzbekistan authorities embarked on a course toward greater openness in the country, Uzbekistan made some progress in improving the production and dissemination of statistical data, but in addition to the gains that were seen, the mission noted a number of deficiencies in the External sector statistics compilation system. It is imperative to correct the methodology for calculating operations involving reinvested income for financial corporations and reflect the results obtained in the balance of payments.
Keywords:
ISCR; CR; CBU balance; nonfinancial corporation; SSC data; CBU estimate; CBU survey; CBU website; debt forgiveness; trade credit assets
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-External Sector Statistics Mission (September 30-October 11, 2010)
International Monetary Fund. Statistics Dept.
At the request of the Republic of Uzbekistan authorities for technical assistance (TA) on external sector statistics (ESS), and with the support of the Middle East and Central Asia Department (MCD) of the International Monetary Fund (IMF), a mission from the IMF Statistics Department (STA) visited Tashkent from September 30 through October 11, 2019. This was the second TA mission under the auspices of the Data for Decisions Fund and the third since the Presidential Order of September 12, 2017, on Measures to Ensure the Accessibility and Openness of Economic and Financial Data for the Republic of Uzbekistan was issued.
Keywords:
ISCR; CR; CBU balance; nonfinancial corporation; SSC data; CBU estimate; CBU survey; CBU website; debt forgiveness; trade credit assets
Cover IMF Staff Country Reports
Republic of Uzbekistan: 2019 Article IV Consultation-Press Release and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
Given its bulging working-age population, creating more and better jobs is the country’s overarching priority. Uzbekistan has already implemented a first wave of important economic reforms, including foreign exchange liberalization, tax reform, and a major upgrade in statistics. Faced with a vast structural reform agenda, the authorities want to prioritize reforms that address the economy’s most damaging distortions first. The main short-term macroeconomic stability challenge is to prevent a credit boom that could generate excessive external deficits and aggravate inflation pressures.
Keywords:
ISCR; CR; debt; GDP; Uzbekistan; exchange rate; authority