BAKU, Azerbaijan, Aug. 6
By Ilkin Seyfaddini - Trend:
The fall of Uzbekistan’s economic growth is the smallest reduction in the whole Central Asia region, Chair of the Board of Trustees of Overseas Development Institute and former President of European Bank for Reconstruction and Development (EBRD) Sumantra Chakrabarti told Trend in an interview.
"The COVID19 pandemic has hit all economies. Uzbekistan is no exception. As of August 5, 2020, the country had recorded 27,314 cases and 167 deaths. The relatively low number of deaths, particularly given the high numbers of migrant workers, is particularly noteworthy," Chakrabarti noted.
It reflects well on the early action taken by the Government of Uzbekistan to close borders, implement a lockdown, and set up testing and quarantine centers, the EBRD’s former president said.
"Like in other emerging markets, the health system has been under severe pressure in coping with the pandemic, and the negative economic is clear, e.g. exports have fallen and unemployment has risen. My former organization, the EBRD, expects economic growth in Uzbekistan to fall by 4.3 percent this year, but that is the smallest reduction in the Central Asia region," said Chakrabarti.
He added that taking the right actions to stimulate a sharp economic recovery will be key for Uzbekistan.
Suma Chakrabarti served as President of the EBRD from July 2012 to July 2020. Sir Suma was knighted in 2006 for his work in international development.
President of Uzbekistan Shavkat Mirziyoyev awarded Suma Chakrabarti with Dustlik Order on June 14, 2020. The signed document underscored his merits "in establishing a strategic partnership and expanding multifaceted cooperation" between Uzbekistan and EBRD.
On July 2, 2020, Overseas Development Institute announced the appointment of Chakrabarti as its next Chair of the Board of Trustees.
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