BAKU, Azerbaijan, Nov. 21
By Klavdiya Romakayeva - Trend:
Uzbekistan may become one of few countries to show economic growth in 2020, Trend reports referring to the press service of Bloomberg.
Earlier, Uzbekistan successfully placed two tranches of sovereign international bonds worth $555 million and two trillion soums ($192 million) on the London Stock Exchange.
Bloomberg noted that this was partially facilitated by the elections in the US. The progress in the creation of a vaccine against the coronavirus and the news of Joe Biden's victory both whetted the appetite for more risky assets than in Uzbekistan and decided to take advantage of it.
Agency analysts said that Uzbekistan, which is ranked three steps below investment grade at Fitch Ratings and S&P Global Ratings, may benefit from analyst and International Monetary Fund predictions that it will be among the few nations to show economic growth this year.
“A young population has helped Uzbekistan weather the coronavirus better than its neighbors and its economy has also benefited from a tilt toward agriculture, manufacturing, and construction,” said the Chief Economist at Renaissance Capital in Moscow Sofya Donets.
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