US to send experts to advise Uzbekistan on budget, public debt
BAKU, Azerbaijan, Oct. 22
By Fakhri Vakilov-Trend:
In early 2020, the US Department of the Treasury intends to send three consultants to Uzbekistan’s Ministry of Finance, the State Tax Committee and the Agency for Development of the Capital Market, Trend reports citing the press service of Uzbekistan’s Ministry of Finance.
In addition, it is planned to attract experts from other American specialized institutions, including the Securities and Exchange Commission.
The Office of Technical Assistance (OTA) of the US Department of the Treasury and Uzbekistan’s Ministry of Finance signed the Terms of Reference for the budget and financial reporting and for the Government Debt and Infrastructure Financing Program (GDIF) at Uzbekistan’s Embassy in Washington.
Deputy of Uzbekistan’s Minister of Finance Odilbek Isakov and Deputy Assistant Secretary for Technical Assistance Policy U.S. Department of the Treasury William Larry McDonald attended the ceremony.
The parties discussed cooperation options to build institutional and human potential in the field of fiscal policy, public debt and investment management system, development of the capital market, tax administration, as well as improving the efficiency of the budget process.
Following the meeting, technical tasks were signed on implementing programs to build financial capacity in such areas as budget planning, developing the local capital market for government securities and improving the practice of managing public debt. In the near future, the adoption of similar technical tasks in the areas of securities market management and tax administration is expected.
The experts of the US Treasury Department are planned to make several visits to Uzbekistan in November to develop interaction plans for the implementation of the agreed areas of cooperation. The expert group will include consultants to be assigned to the departments of Uzbekistan on a long-term basis (from one to three years).
Follow author on Twitter:@vakilovfaxri