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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-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 (October 15-26-, 2018)
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 during October 15–26, 2018. This was the first TA mission under the auspices of the Data for Decision Fund and the second since the Republic of Uzbekistan 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; trial BOP; BOP transaction; CBU balance; CBU BOP; remove CBU deposit
Cover IMF Staff Country Reports
The Kyrgyz Republic: Poverty Reduction Strategy Paper
International Monetary Fund. Middle East and Central Asia Dept.
This Poverty Reduction Strategy Paper on Kyrgyz Republic highlights that the period 2009 through filled with symbolic events marked a new milestone in the Kyrgyz Republic development and will enter the country’s history as the period of strength test for the Kyrgyz statehood and entire public administration system including socio-political, economic, environmental, financial and other areas of development management. The country development background during that period included the world financial crisis and growing uncertainty on world markets which created risks for all market actors including the Kyrgyzstan’s key trade partners such as Russia, Kazakhstan, and China. The government officially declared the country’s sustainable development-oriented policy. For Kyrgyzstan as a country with its still high poverty level, particularly in rural areas, and limited natural and financial resources, the sustainable development policy seems today’s logically and politically justified choice. The sustainable development model itself suggests striving for systemic, comprehensiveness, and balance in development. Transition to sustainable development suggests considering economic growth through the prism of human values and reasonable use of natural resources.
Keywords:
ISCR; CR; Kyrgyz Republic government; staff training; community development; customs union; education system; feasibility study; foreign trade; government regulation; labor market; national budget; sustainable development; value chain; economic system; civil society; risk management; Sustainable development; Global; Central Asia
Cover Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2008
Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2008
International Monetary Fund

Abstract

This paper reports a brief description of the IMF and its activities, focusing in particular on its technical assistance (TA) activities. The report then describes in greater detail the Japan Administered Account for Selected Fund Activities (JSA)—including its objectives, size, scope, and use, as well as assessments of its activities, with a focus on fiscal year (FY) 2008—and the TA activities and scholarship programs that it finances. The IMF finances technical assistance for its member countries, devoting some 25 percent of its annual operating budget to TA work and training. Although most technical assistance is financed through internal resources, external financing from bilateral and multilateral partners has been increasing over the past few years and constitutes an important pillar. The responsibilities of the Regional Office in Tokyo include collaborative efforts between the IMF and Japan that strengthen economic prospects in the Asia-Pacific region, and also include support of various regional policy forums, such as Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations, and the Pacific Islands Forum.

Keywords:
MISC RPT; MISC; IMF's technical assistance; structural adjustment program; TA activity; Japan's contribution; policy dialogue; balance of payments difficulty; Tax law; Capital markets; Monetary statistics; Financial sector; Asia and Pacific; Central America; Central Asia; Global; Africa
Cover IMF Staff Country Reports
Republic of Uzbekistan: Poverty Reduction Strategy Paper
International Monetary Fund
The Welfare Improvement Strategy (WIS) of Uzbekistan has the objective of improving living standards of its people with the help of strong economic policies for all priority areas of development. The report reviews economic and social policies and assesses the living standards of its people. It also reviews the macroeconomic policies for implementing goals and priorities of the WIS in individuals and estimates the cost for the same. Studies show the need for forming a conceptual framework for the WIS implementation process as well as for monitoring and evaluating the policy strategies.
Keywords:
ISCR; CR; economic growth; medical care; private sector; public utility; gross domestic product; poverty rate; economic policy; Income; Global; Central Asia
Cover IMF Working Papers
Rapid Growth in Transition Economies: Growth-Accounting Approach
Mr. Garbis Iradian
This paper uses the growth-accounting approach to determine the sources of growth in transition economies. The central conclusion is that the estimated total factor productivity (TFP) growth for the former Soviet Union republics were significantly higher than other fast growing economies. A key question for prospective growth is whether the TFP gains achieved thus far have already eliminated most of the inefficiencies of central planning-and will therefore soon fade away. Underutilized labor combined with the recent trend of faster capital accumulation may play a more important role in the medium-term growth.
Keywords:
WP; TFP growth; technical efficiency; CIS country; physical capital
Cover IMF Working Papers
The Macroeconomics of Remittances: The Case of Tajikistan
Mr. Alexei P Kireyev
The paper seeks to assess the macroeconomic implications of large-scale inward remittances for a small open economy. By including remittances in several standard models, the paper concludes that the overall macroeconomic impact of remittances is likely to be ambiguous. The impact depends on the structural characteristics of the receiving country, in particular its consumption and investment patterns, and its capacity to manage large financial inflows. As data deficiencies and methodological problems associated with remittances preclude crosscountry empirical investigation, the paper illustrates these findings with data on Tajikistan, where remittances as a share of GDP are among the highest in the world. The paper also evaluates the pros and cons of remittances in a broader political economy context.
Keywords:
WP; a number of high-remittance country; comparative advantage; remittance transfer; private sector; impact of remittance; labor migration; remittances to Tajikistan
Cover IMF Staff Country Reports
Republic of Uzbekistan: Interim Poverty Reduction Strategy Paper
International Monetary Fund
This paper reviews Uzbekistan’s Interim Welfare Improvement Strategy Paper (I-WISP). I-WISP defines the main directions and measures aimed at improving living standards and reducing poverty among the population of Uzbekistan for 2005–10. The strategy is designed to further expand reforms in all aspects of life in the society based on the national model of economic and social development, the social values of the people of Uzbekistan, and their commitment to the processes of integration into the world community.
Keywords:
ISCR; CR; economic policy; job creation; public utility; steering committee; economic growth; private sector; small business; foreign trade; economic development; working group; civil society; Employment; Central Asia
Cover IMF Working Papers
Analysis of Recent Growth in Low-Income CIS Countries
Ms. Elena Loukoianova
and
Ms. Anna Unigovskaya
This paper analyzes factors that determine recent economic growth in the low-income countries of the Commonwealth of Independent States.2 The main findings are as follows: (1) productivity gains in export-oriented sectors and expansion of exports may have become the main sources of growth in five of the seven CIS-7 countries, while in the early years of transition the output recovery was mainly driven by consumption; (2) economic growth has concentrated in agriculture and the raw material sectors, and, thus, is vulnerable to changes in external conditions; and (3) structural reforms matter for growth, which is consistent with previous research on growth in transition countries.
Keywords:
WP; real GDP; TFP growth; exchange rate; CIS Goskomstat
Cover Growth Experience in Transition Countries, 90-98
Growth Experience in Transition Countries, 90-98
International Monetary Fund

Abstract

This study, another in the series focusing on special issues in transition, reviews the experience of output decline and recovery in the 25 countries of eastern and central Europe and the Baltics, Russia, and other countries of the former Soviet Union. Although these countries began the process of economic transformation with similar circumstances of output decline, the extent of decline, its duration, and the sustainability of recovery in growth varied considerably. The authors explore the factors behind this variation and find that the most important policies promoting early and sustained recovery were ones that supported financial stabilization and structural reforms in key areas such as private sector development, the tax system, economic liberalization, and secure property rights.

Keywords:
OP; transition country; country; economy; transition economy; rating agency; market signal; productivity calculation; Structural reforms; Privatization; Foreign direct investment; Productivity; Europe; Baltics; Central and Eastern Europe; Asia and Pacific