Abstract
2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Uzbekistan
Fund Relations
(As of March 31, 2018)
I. Membership Status
Date of membership: September 21, 1992
Status: Article VIII
II. General Resources Account
| SDR Million | Percent Quota | |
|---|---|---|
| Quota | 551.20 | 100.00 |
| IMF Holdings of Currency | 551.20 | 100.00 |
| Reserve Tranche Position | 0.01 | 0.00 |
| SDR Million | Percent Quota | |
|---|---|---|
| Quota | 551.20 | 100.00 |
| IMF Holdings of Currency | 551.20 | 100.00 |
| Reserve Tranche Position | 0.01 | 0.00 |
III. SDR Department
| SDR Million | Percent Quota | |
|---|---|---|
| Net Cumulative Allocation | 262.79 | 100.00 |
| Holdings | 266.09 | 101.25 |
| SDR Million | Percent Quota | |
|---|---|---|
| Net Cumulative Allocation | 262.79 | 100.00 |
| Holdings | 266.09 | 101.25 |
IV. Outstanding Purchases and Loans: None
V. Latest Financial Arrangements
| Type | Stand-By |
|---|---|
| Approval Date | December 18, 1995 |
| Expiration Date | March 17, 1997 |
| Amount Approved (SDR Million) | 124.70 |
| Amount Drawn (SDR Million) | 65.45 |
| Type | Stand-By |
|---|---|
| Approval Date | December 18, 1995 |
| Expiration Date | March 17, 1997 |
| Amount Approved (SDR Million) | 124.70 |
| Amount Drawn (SDR Million) | 65.45 |
VI. Projected Obligations to the Fund: None
VII. Implementation of HIPC Initiative: Not Applicable
VIII. Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
IX. Implementation of the Catastrophe Containment and Relief (CCR): Not Applicable
Exchange Rate Arrangements
Uzbekistan accepted the obligations of Article VIII Sections 2(a), 3, and 4 of the Fund’s Articles of Agreement with effect from October 15, 2003, and maintains an exchange system free of restrictions on the making of payments and transfers for current international transactions.
At the time of the last Article IV consultation, Uzbekistan maintained two exchange restrictions and one multiple currency practice (MCP) subject to IMF jurisdiction, all of which have been eliminated. First, the exchange restriction arising from undue delays (of up to and exceeding 12 months) in the availability of foreign exchange for payments and transfers for current international transactions has been eliminated. Market participants have confirmed that FX is now available in a timely manner, except for reports of a few specific pre-liberalization requests for FX purchases that are delayed. Staff was informed that the delay was due to an on-going assessment of the relevant transactions. Second, the authorities have ceased the practice of direct rationing in providing FX for payments and transfers for current international transactions and thus, the exchange restriction arising from this action has also been eliminated. Finally, as FX is generally freely available for payments and transfers for current international transactions without undue delay and the use of domestic currency conversion accounts is no longer mandatory, the MCP arising from the lack of interest payments on “blocked accounts” has ceased to exist.
According to Uzbekistan’s authorities, the de jure exchange arrangement is floating. The exchange rate is determined daily based on the supply and demand for foreign currency established on Uzbekistan’s currency exchange. The Central Bank of Uzbekistan (CBU) is a direct buyer of monetary good produced in Uzbekistan, acting as a supplier in the foreign exchange market in amounts equivalent to the volume of gold purchased from producers. The CBU also intervenes in the foreign exchange market to smooth out undue short-term volatility. Foreign exchange sales by the CBU in the FX market are not directed at affecting the fundamental trend of the exchange rate and are driven exclusively by the aim of sterilizing additional liquidity from CBU purchases of monetary gold.
Since September 2017, the sum has stabilized against the U.S. dollar within a 2 percent band. Accordingly, the IMF classifies the de facto exchange rate as a stabilized arrangement, effective September 6, 2017. Previously, the IMF had classified the de facto exchange rate as a crawl-like arrangement.
Article IV Consultation
The Republic of Uzbekistan is on the standard 12-month Article IV consultation cycle. The previous Article IV consultation was concluded on August 31, 2015.
Safeguards Assessment
The CBU is currently not subject to safeguards assessment policy since Uzbekistan is not expected to have a financial arrangement with the Fund in the near future.
Resident Representative
Currently, the Fund does not have a resident representative in Uzbekistan, but maintains a locally staffed office. Previously, a resident representative office was opened in Tashkent from September 1993 to April 2011.
Technical Assistance
(September 2015 to March 2018)
| IMF Department | Type of Technical Assistance | Date |
|---|---|---|
| Fiscal Affairs | Budget and Treasury Reforms | February 2016 |
| Fiscal Affairs | Implementation of the Government Financial Management Information System | February 2016 |
| Monetary & Capital Markets | Supervisory Stress Testing | April 2016 |
| Statistics | Balance of Payments Statistics | December 2017 |
| Monetary & Capital Markets | Monetary and Foreign Exchange Operations | December 2017 |
| Monetary & Capital Markets | Monetary Policy Framework | February 2018 |
| Monetary & Capital Markets | Bank Stress Testing | February 2018 |
| Fiscal Affairs | Review of the Tax System | February 2018 |
| Statistics | Enhanced General Data Dissemination System | March 2018 |
| IMF Department | Type of Technical Assistance | Date |
|---|---|---|
| Fiscal Affairs | Budget and Treasury Reforms | February 2016 |
| Fiscal Affairs | Implementation of the Government Financial Management Information System | February 2016 |
| Monetary & Capital Markets | Supervisory Stress Testing | April 2016 |
| Statistics | Balance of Payments Statistics | December 2017 |
| Monetary & Capital Markets | Monetary and Foreign Exchange Operations | December 2017 |
| Monetary & Capital Markets | Monetary Policy Framework | February 2018 |
| Monetary & Capital Markets | Bank Stress Testing | February 2018 |
| Fiscal Affairs | Review of the Tax System | February 2018 |
| Statistics | Enhanced General Data Dissemination System | March 2018 |
Relations with Selected International Financial Institutions
Asian Development Bank (ADB)
(As of March 2018)
Uzbekistan became a member of the ADB in 1995. In September 2012, the ADB approved a Country Partnership Strategy (CPS), 2012–2016 for Uzbekistan which supported infrastructure development and access to finance. The ADB’s Country Operations Business Plan (COBP), 2018–2020, issued in October 2017 extends the validity of the CPS. It is consistent with recent government initiatives, including the government’s Strategy of Actions on Further Development of Uzbekistan, 2017–2021. The COBP includes operational support for transport, energy, municipal services, health, and access to finance. Support for the key drivers of change—private sector development, regional cooperation, governance, knowledge management, gender equity, and climate change and the environment—is integrated into the operational assistance.
Since 1995 the ADB has approved more loans to Uzbekistan than to any other country in Central Asia. As of December 2017, Uzbekistan had received 67 loans totaling $6.8 billion—including two private sector loans totaling $225 million, $6 million in equity investment, $218 million in guarantees, and $82 million in technical assistance grants. The allocation of the cumulative lending, grant, and technical assistance portfolio was approximately 30 percent to energy; 25 percent to transportation; 20 percent to finance; 10 percent to water, urban infrastructure and services; and 15 percent to other sectors (i.e. agriculture, education, health, industry, and public sector management).
To catalyze private investment, the ADB provides direct financial assistance for non-sovereign public and private sector transactions. For example, under the Trade Finance Program the ADB provides guarantees and loans through partner banks in support of trade. The ADB also provides co-financing for investment and technical assistance projects with government agencies, multilateral banks, and commercial organizations. The ADB closely coordinates programs and projects with multilateral and bilateral development partners, including the Islamic Development Bank (IDB), the Japan International Cooperation Agency (JICA), and the World Bank.
European Bank for Reconstruction and Development (EBRD)
(As of March 2018)
Uzbekistan joined the EBRD in 1992.
The EBRD focuses on identifying potential new projects in areas set out in a Memorandum of Understanding signed with the authorities in March 2017. In the short-term, the EBRD’s work aims to support continuing sustainable economic growth, open market development, and a better investment climate. This includes:
Development of micro and small businesses as well as private entrepreneurship including through increasing access to finance and provision of advisory services
Modernization and development of the agribusiness, manufacturing and services sectors including supporting mid-sized business and FDI as well as green projects targeting energy and resource efficiency and waste minimization
Support of environmental cleanup operations for Uranium legacy sites under the framework of the Environmental Remediation Account for Central Asia.
Support for the reforms aimed at improving business climate; private sector development; banking sector strengthening; development of local capital markets; promotion of green economy; support for gender, youth and regional inclusion; and improvement of corporate governance and procurement with the objective to improve economic competitiveness and foster sustainable development.
EBRD Activity in Uzbekistan
EBRD Activity in Uzbekistan
| Cumulative no. of projects: | 60 |
| Cumulative investment: | € 853 million |
| Cumulative disbursement: | € 591 million |
| Active projects: | 11 |
| Current portfolio: | € 71 million |
EBRD Activity in Uzbekistan
| Cumulative no. of projects: | 60 |
| Cumulative investment: | € 853 million |
| Cumulative disbursement: | € 591 million |
| Active projects: | 11 |
| Current portfolio: | € 71 million |
As of March 2018, cumulative EBRD activity in Uzbekistan included 60 projects, with total investment of €853 million. The current portfolio totaled €71.3 million, with 63 percent for financial institutions; 36 percent in industry, commerce, & agribusiness; and one percent in infrastructure.
The EBRD provides analysis of Uzbekistan’s economy, including:
The business environment and main obstacles faced by firms in Uzbekistan through its Business Environment and Enterprise Performance Survey (BEEPS) in partnership with the World Bank, and
A country assessment through its Transition Report 2017–18.
A country strategy for Uzbekistan is currently under preparation.
World Bank
(As of March 2018)
Background
The Country Partnership Framework (CPF) for Uzbekistan for 2016–2020 focuses on (i) private sector growth; (ii) agricultural competitiveness including cotton sector modernization; and (iii) improved public service delivery. As such, the CPF remains aligned with Uzbekistan’s National Development Strategy for 2017–2021. The indicative financing envelope is about US$3 billion over the five-year CPF period, with a distribution of one-third of IDA and two-thirds of IBRD financing.
World Bank Portfolio
World Bank Portfolio
| No. of projects: | 16 |
| Lending: | $ 2.74 billion |
| IBRD: | $ 1.17 billion |
| IDA: | $ 1.53 billion |
World Bank Portfolio
| No. of projects: | 16 |
| Lending: | $ 2.74 billion |
| IBRD: | $ 1.17 billion |
| IDA: | $ 1.53 billion |
Uzbekistan has launched a comprehensive reforms process with the adoption of the National Development Strategy for 2017–2021 in February 2017. The World Bank program in Uzbekistan is being adjusted to better respond to the emerged priorities and development vision of the Government. In addition to the traditional financial instruments, new instruments, such as Development Policy Operation, Program for Results and Reimbursable Advisory Services and intensive analytical work, are being programmed or planned to support the Government’s transformative efforts.
Key Engagement
Uzbekistan joined the World Bank in 1992. As of April 2018, the Bank had provided funding for 40 projects financed by the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) and sponsored more than 50 technical assistance programs via grants. The World Bank’s funding is currently focused on infrastructure investments in the agriculture, water, energy, transport, health, and education sectors. This financing program is appropriate for meeting the large demand for this kind of investment, improving the competitiveness of the economy, and providing the required linkage between policy and investment.
Sixteen IBRD/IDA investment projects, spread across seven sectors and worth US$2.74 billion, are currently under implementation, including the Global Partnership for Education (GPE) grant-financed projects worth US$49.9 million.
As of April 2018, the International Finance Corporation (IFC) had a committed portfolio in Uzbekistan of US$52.7 million invested in nine projects in the financial sector and manufacturing. IFC’s advisory services program is helping the country develop its financial markets and infrastructure, expanding access to finance, upgrading the credit information sharing system, promoting food safety, and increasing water and power efficiency. IFC has launched a new six-year advisory program in Uzbekistan, focusing on developing a sustainable cotton supply chain and on introducing modern, socially and environmentally sound cotton growing technologies and farming practices in the country.
The World Bank also supports the Government’s efforts to enhance the investment climate and business environment by working on improving the country’s Doing Business indicators.
MIGA’s portfolio in Uzbekistan comprised guarantees for a project in the oil and gas sector. MIGA had issued a political risk insurance guarantee for US$119.5 million to BNP Paribas (Suisse) SA of Switzerland to cover a non-shareholder loan to Lukoil Overseas Uzbekistan Ltd. for the Khauzak-Shady Block and Kandym Field Group projects. That guarantee was terminated in FY2017 and no new guarantees have been issued since then.
Statistical Issues
(As of March 31, 2018)
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data have shortcomings that significantly hamper surveillance. Shortcomings are most serious in national accounts, price statistics, external sector, and government finance statistics. | |
| National Account: The methodology for compiling the annual GDP estimates should be improved. Appropriate procedures need to be developed for reconciling production and expenditure-based estimates of GDP. Discrete quarterly GDP estimates are not compiled. The collection of primary source data for compiling national accounts statistics relies predominantly on the old Soviet-type system (including complete enumeration of legal entities, collection of cumulative data, use of numerous fragmented survey questionnaires, and classification of economic activities according to the old material product system). The restructuring of the data collection system should start as soon as possible. A mission in April 2018 will help the authorities to identify priorities and to develop a detailed plan for further cooperation on the compilation of the national accounts. | |
| Price Statistics: In January 2018, the authorities introduced an updated CPI methodology. | |
| Government Finance Statistics: Detailed data on revenue and expenditure of the consolidated government budget are compiled by the ministry of finance on a monthly basis and are available after about four weeks. Data for extrabudgetary funds are available quarterly, and include only broad categories of revenue and expenditure of the four largest funds, that is, pension, road, education, and employment. The authorities occasionally provide fiscal tables that include net lending, foreign-financed investment, and details on the financing of the deficit. A persisting statistical discrepancy between the financing of the budget based on the above-the-line and below-the-line data points to coverage and classification issues. The authorities do not reconcile the monetary and fiscal financing data on a regular basis. | |
| Budget expenditure data are organized according to a largely functional classification. An economic classification is available only occasionally, but the quality of these data is inadequate. The ministry of finance occasionally provides data on tax arrears. Information on total proceeds from privatization operations and treasury bills are provided on a quarterly basis, and data on issues and repayments of treasury bills are available monthly on request. | |
| The authorities started reporting GFSM2001-compliant fiscal data in 2013 and publishing fiscal data in the GFS Yearbook in 2014. | |
| Monetary and Financial Statistics: Following the introduction of new charts of accounts for the CBU and for the commercial banks in 1997, several missions have assisted the CBU in compiling monetary. The CBU has started preliminary work on the publication of MFS in the Enhanced General Data Dissemination System, as well as on the introduction of a country page in International Financial Statistics. An MFS mission is planned in FY19 to assist the CBU to advance this work. | |
| Financial Soundness Indicators: The CBU reports 10 of the 12 core financial soundness indicators (FSIs) and one of the 13 encouraged FSIs for deposit takers on a quarterly basis for posting on the IMF’s FSI website with a lag of one month. | |
| External Sector Statistics: Effective January 2018, the confidentiality regime was lifted from external sector statistics data, with balance of payments and international reserves data compiled but not published. No compilation system existed for international investment position (IIP) and external debt statistics (EDS). Only selected merchandise trade data were published. The BOP compilation is transferred to CBU, while SSC is responsible for IIP compilation. | |
| There is a need to build up the CBU’s capacity to compile external sector statistics and set up a new ESS compilation system. Assessment of BOP data is hampered by inadequate scope, with some essential entries presented net (e.g. the financial account), and by the high level of aggregation of presented data (e.g., cross-border trade transactions). The most important data gaps include: (i) the direct investment account lacks information on investment in the financial sector and is subject to inadequate recording of production sharing agreements; (ii) shuttle trade estimates are not based on surveys; (iii) income transactions, which are recorded on a cash basis, lack detail and are not timely; and (iv) inadequate coverage and classification of external debt transactions. | |
| II. Data Standards and Quality | |
| Uzbekistan plans to participate in the Enhanced General Data Dissemination System (e-GDDS). Beginning in May 2018, a National Summary Data Page (NSDP) will be posted on the website of the State Statistics Committee of the Republic of Uzbekistan, utilizing the Statistical Data and Metadata Exchange (SDMX) as the language for data exchange. | No data ROSC is available. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data have shortcomings that significantly hamper surveillance. Shortcomings are most serious in national accounts, price statistics, external sector, and government finance statistics. | |
| National Account: The methodology for compiling the annual GDP estimates should be improved. Appropriate procedures need to be developed for reconciling production and expenditure-based estimates of GDP. Discrete quarterly GDP estimates are not compiled. The collection of primary source data for compiling national accounts statistics relies predominantly on the old Soviet-type system (including complete enumeration of legal entities, collection of cumulative data, use of numerous fragmented survey questionnaires, and classification of economic activities according to the old material product system). The restructuring of the data collection system should start as soon as possible. A mission in April 2018 will help the authorities to identify priorities and to develop a detailed plan for further cooperation on the compilation of the national accounts. | |
| Price Statistics: In January 2018, the authorities introduced an updated CPI methodology. | |
| Government Finance Statistics: Detailed data on revenue and expenditure of the consolidated government budget are compiled by the ministry of finance on a monthly basis and are available after about four weeks. Data for extrabudgetary funds are available quarterly, and include only broad categories of revenue and expenditure of the four largest funds, that is, pension, road, education, and employment. The authorities occasionally provide fiscal tables that include net lending, foreign-financed investment, and details on the financing of the deficit. A persisting statistical discrepancy between the financing of the budget based on the above-the-line and below-the-line data points to coverage and classification issues. The authorities do not reconcile the monetary and fiscal financing data on a regular basis. | |
| Budget expenditure data are organized according to a largely functional classification. An economic classification is available only occasionally, but the quality of these data is inadequate. The ministry of finance occasionally provides data on tax arrears. Information on total proceeds from privatization operations and treasury bills are provided on a quarterly basis, and data on issues and repayments of treasury bills are available monthly on request. | |
| The authorities started reporting GFSM2001-compliant fiscal data in 2013 and publishing fiscal data in the GFS Yearbook in 2014. | |
| Monetary and Financial Statistics: Following the introduction of new charts of accounts for the CBU and for the commercial banks in 1997, several missions have assisted the CBU in compiling monetary. The CBU has started preliminary work on the publication of MFS in the Enhanced General Data Dissemination System, as well as on the introduction of a country page in International Financial Statistics. An MFS mission is planned in FY19 to assist the CBU to advance this work. | |
| Financial Soundness Indicators: The CBU reports 10 of the 12 core financial soundness indicators (FSIs) and one of the 13 encouraged FSIs for deposit takers on a quarterly basis for posting on the IMF’s FSI website with a lag of one month. | |
| External Sector Statistics: Effective January 2018, the confidentiality regime was lifted from external sector statistics data, with balance of payments and international reserves data compiled but not published. No compilation system existed for international investment position (IIP) and external debt statistics (EDS). Only selected merchandise trade data were published. The BOP compilation is transferred to CBU, while SSC is responsible for IIP compilation. | |
| There is a need to build up the CBU’s capacity to compile external sector statistics and set up a new ESS compilation system. Assessment of BOP data is hampered by inadequate scope, with some essential entries presented net (e.g. the financial account), and by the high level of aggregation of presented data (e.g., cross-border trade transactions). The most important data gaps include: (i) the direct investment account lacks information on investment in the financial sector and is subject to inadequate recording of production sharing agreements; (ii) shuttle trade estimates are not based on surveys; (iii) income transactions, which are recorded on a cash basis, lack detail and are not timely; and (iv) inadequate coverage and classification of external debt transactions. | |
| II. Data Standards and Quality | |
| Uzbekistan plans to participate in the Enhanced General Data Dissemination System (e-GDDS). Beginning in May 2018, a National Summary Data Page (NSDP) will be posted on the website of the State Statistics Committee of the Republic of Uzbekistan, utilizing the Statistical Data and Metadata Exchange (SDMX) as the language for data exchange. | No data ROSC is available. |
Table of Common Indicators Required for Surveillance
(As of March 31, 2018)
The authorities do not yet supply data to the IMF Statistics Department. The date for the latest observation and the date received reflect when data was transmitted to the area department.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Foreign & domestic bank and domestic nonbank financing.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Currency and maturity composition are not reported regularly.
Table of Common Indicators Required for Surveillance
(As of March 31, 2018)
| Date of Latest Observation | Date Received 1 | Frequency of Data 2 | Frequency of Reporting | Frequency of Publication | |
|---|---|---|---|---|---|
| Exchange Rates | Mar 27, 2018 | Mar 27, 2018 | D | W | W |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities 3 | Feb 2018 | Mar 2018 | M | M | M |
| Reserve/Base Money | Feb 2018 | Mar 2018 | M | M | M |
| Broad Money | Feb 2018 | Mar 2018 | M | M | M |
| Central Bank Balance Sheet | Feb 2018 | Mar 2018 | M | M | M |
| Consolidated Balance Sheet of the Banking System 4 | Feb 2018 | Mar 2018 | M | M | M |
| Interest Rates 5 | Feb 2018 | Mar 2018 | M | M | |
| Consumer Price Index | Feb 2018 | Mar 2018 | M | M | M |
| Revenue, Expenditure, Balance, and Composition of Financing—General Government 6 | 2017 | Mar 2018 | Q | Q | Q |
| Stocks of Central Government and Central Government Guaranteed Debt7 | 2017 | Mar 2018 | Q | Q | NA |
| External Current Account Balance | 2017 Q3 | Mar 2018 | Q | Q | NA |
| Exports and Imports of Goods and Services | Feb 2018 | Mar 2018 | M | M | M |
| GDP | 2017 Q4 | Mar 2018 | Q | Q | Q |
| Gross External Debt | NA | NA | NA | NA | NA |
| International Investment Position | NA | NA | NA | NA | NA |
The authorities do not yet supply data to the IMF Statistics Department. The date for the latest observation and the date received reflect when data was transmitted to the area department.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Foreign & domestic bank and domestic nonbank financing.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Currency and maturity composition are not reported regularly.
Table of Common Indicators Required for Surveillance
(As of March 31, 2018)
| Date of Latest Observation | Date Received 1 | Frequency of Data 2 | Frequency of Reporting | Frequency of Publication | |
|---|---|---|---|---|---|
| Exchange Rates | Mar 27, 2018 | Mar 27, 2018 | D | W | W |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities 3 | Feb 2018 | Mar 2018 | M | M | M |
| Reserve/Base Money | Feb 2018 | Mar 2018 | M | M | M |
| Broad Money | Feb 2018 | Mar 2018 | M | M | M |
| Central Bank Balance Sheet | Feb 2018 | Mar 2018 | M | M | M |
| Consolidated Balance Sheet of the Banking System 4 | Feb 2018 | Mar 2018 | M | M | M |
| Interest Rates 5 | Feb 2018 | Mar 2018 | M | M | |
| Consumer Price Index | Feb 2018 | Mar 2018 | M | M | M |
| Revenue, Expenditure, Balance, and Composition of Financing—General Government 6 | 2017 | Mar 2018 | Q | Q | Q |
| Stocks of Central Government and Central Government Guaranteed Debt7 | 2017 | Mar 2018 | Q | Q | NA |
| External Current Account Balance | 2017 Q3 | Mar 2018 | Q | Q | NA |
| Exports and Imports of Goods and Services | Feb 2018 | Mar 2018 | M | M | M |
| GDP | 2017 Q4 | Mar 2018 | Q | Q | Q |
| Gross External Debt | NA | NA | NA | NA | NA |
| International Investment Position | NA | NA | NA | NA | NA |
The authorities do not yet supply data to the IMF Statistics Department. The date for the latest observation and the date received reflect when data was transmitted to the area department.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Foreign & domestic bank and domestic nonbank financing.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Currency and maturity composition are not reported regularly.