Central Bank takes measures to mitigate impact of coronavirus on Uzbekistan
BAKU, Azerbaijan, Mar. 17
By Ilkin Seyfaddini – Trend:
The Central Bank of Uzbekistan will apply measures to mitigate credit risks that may arise from the spread of coronavirus infection, Trend reports referring to the bank.
The national regulator recommended all commercial banks of the country to carefully study the possibilities of credit repayment by enterprises affected by COVID-19 virus.
This primarily concerns companies in the field of tourism and international cargo transportation.
The Central Bank also recommended the banks to provide these enterprises with a grace period to repay the principal debt until October 1. It is also proposed to extend the final payments for the same period.
Meanwhile, the banks are given the right not to change the classification of credit quality, which will be revised on the basis of these recommendations.
Earlier, the State Tax Committee of Uzbekistan announced that it will control the stability of prices for food and essential goods in the case of nation-wide quarantine measures.
Furthermore, the Chairman of the State Tax Committee will receive prompt reports on identified cases of unjustified price increases. Preventive measures are to be taken for each of them.
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