BAKU, Azerbaijan, Nov. 20
By Klavdiya Romakayeva - Trend:
International Monetary Fund’s assistance to further improve the methodology for compiling consumer and producer price statistics is ongoing in Uzbekistan, the source in the IMF told Trend.
“Currently, the IMF provides Uzbekistan with the advice on fiscal and financial policies, including on boosting the efficiency of government taxes and expenditures, managing debt, improving the operation of monetary policy, and fostering the stability of the banking system,” the fund said.
In addition, the Fund provides Uzbekistan with a wide range of technical assistance on price statistics, such as assistance in improving the methodology for compiling consumer and producer price statistics.
Uzbekistan introduced improved consumer price statistics in January 2018.
Commenting on financing in the amount of $375 million provided by IMF under Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI), the fund said that the RCF and RFI are designed to provide rapid financing when a country is hit by a sudden shock, such as the COVID-19 pandemic, that has a significant harmful impact on the domestic economy and external position.
“These facilities generally do not carry conditionality or require the IMF to review the country’s performance. The funds should be repaid over 3-and-a-quarter to 5 years,” the message said.
It was also said in the Fund that it is ready to continue to support Uzbekistan with policy advice, technical assistance, as well as further financial assistance if needed.
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