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Middle East and Central Asia > Uzbekistan, Republic of

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Cover IMF Staff Country Reports
Republic of Uzbekistan: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper discusses key channels by which fiscal consolidation impacts short- and medium-term growth, examines the international experience on how to make fiscal consolidation more growth friendly, and analyzes policy implications for Uzbekistan. A large part of the adjustment is implemented with high-quality efficiency-enhancing measures: reducing energy subsidies, improving the targeting of social spending, and curbing policy lending. The World Bank Public Expenditure Review notes that nonwage spending in health and education is low and crowded out by high wage bills, which have been growing in recent years as efforts to improve pay in these areas were implemented. This points to the need to review the adequacy of nonwage spending in these sectors and undertake wage bill rationalization more broadly since these are large sectors of public employment. In the specific case of health spending, consideration should be given to strengthening primary care and introducing task-shifting which will lead to greater efficiency from health wage bill expenditure by shifting its composition over the medium term. Unify the public investment process irrespective of the financing source; create a unified appraisal and selection process; establish a single project pipeline; and improve project monitoring and evaluation to increase public investment efficiency.
Keywords:
market regulation; privatizing state enterprises; impact of fiscal consolidation; channels of impact; government data; Fiscal consolidation; Corruption; Global; Central Asia and the Caucasus; Asia and Pacific
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
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 IMF Staff Country Reports
Republic of Uzbekistan: Poverty Reduction Strategy Paper: Joint Staff Advisory Note
International Monetary Fund
The Joint Staff Note (JNS) reports that Welfare Improvement Strategy (WIS) showed a commendable effort under the Poverty Reduction Strategy Paper (PRSP) in Uzbekistan. They stressed that implementation capacity within the government would have to be strengthened. Executive Directors agreed that strong implementation of the WIS and strengthening of WIS policy analysis and design would help reduce poverty and achieve the Millennium Development Goals (MDGs). They stressed the need for contributing toward the cost of programs and policies, establishing methods and institutions for its monitoring and evaluation, and providing technical assistance for raising the standards of WIS formulation and implementation.
Keywords:
ISCR; CR; government; WIS documents poverty trend; WIS agenda; WIS policy analysis; income poverty diagnosis; gradualist approach; poverty analysis; government of the Republic of Uzbekistan; WIS lack specificity; state intervention; Poverty reduction; Poverty reduction strategy; Structural reforms
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
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-Joint Staff Advisory Note
International Monetary Fund
This Joint Staff Advisory Note (JSAN) examines Uzbekistan’s Interim Welfare Improvement Strategy Paper (I-WISP) for 2005–10. The I-WISP for 2005–10 is the first comprehensive economic and social strategy document presented by the Uzbek authorities. It builds on several medium-term sectoral strategies, including the Production Localization, National Personnel Training, School Education Development, and Health Care Reform Programs. This JSAN provides guidance to the authorities on priority strategic issues to be addressed as they move forward with the preparation of a full Welfare Improvement Strategy Paper.
Keywords:
ISCR; CR; state; I-WISP; policy; full WISP; reform program; state interventionism; state order; policy measure; state order price; state plan; Poverty reduction strategy; Poverty reduction; Medium-term budget frameworks
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 Improving Governance and Fighting Corruption in the Baltic and CIS Countries
Improving Governance and Fighting Corruption in the Baltic and CIS Countries
The Role of the IMF
International Monetary Fund

Abstract

Drawing on recent examples of corruption in the Baltics and former Soviet Union, this pamphlet analyzes the links between governance and corruption, and emphasizes the high economic cost that corruption exacts. The pamphlet outlines how the IMF is working with the countries of the former Soviet Union to curb corruption, and put in place the regulatory and legal changes needed to support good government.

Keywords:
EI; state; enterprise; governance; state energy company; textile plant; CIS country; country self-assessments; governance problem; government transparency; accountancy firm; Corruption; Baltics
Cover The Low-Income Countries of the Commonwealth of Independent States
The Low-Income Countries of the Commonwealth of Independent States
Progress and Challenges in Transition
Sarosh Sattar
and
Mr. Clinton R. Shiells

Abstract

The CIS-7 Initiative was launched in 2002 and endorsed by ministers from the CIS-7 and donor countries, with the objective of promoting poverty reduction, economic growth, and debt sustainability among the seven poorest countries of the Commonwealth of Independent States (CIS). This volume draws from the follow-up conference held in Lucerne, Switzerland, in January 2003. The objective of this conference was to achieve an understanding of the development agenda in the seven countries and the key policy measures to be taken by the governments and donors to improve future prospects for the countries’ populations.

Keywords:
SEM; CIS-7; country; enterprise; private sector; CIS country; international community; transition country; public expenditure; land assets; Kyrgyz land reform reform program; State interference; Budget planning and preparation; Small and medium enterprises; Exports; Central Asia; Central and Eastern Europe; Eastern Europe; Central Asia and the Caucasus; Global