On 14 April, within the framework of the signed interdepartmental agreements, the Ministry of Finance hosted a meeting of Deputy Minister of Finance Dilshod Sultanov with a delegation of the Government of the Russian Federation.
The volume of net gold and foreign exchange reserves of Uzbekistan as of 1 April 2021 exceeded US$32.67 billion, according to data from the Central Bank.
Uzpromstroybank, under the guarantee of the government, has financed 429 projects in the fruit and vegetable and livestock sectors with a total value of US$390.25 million.
Payment systems HUMO and UZCARD signed a memorandum of cooperation. The document envisages the implementation of joint projects that contribute to the improvement of cashless payments in Uzbekistan. The first project under the signed memorandum will be the phased integration of the companies' infrastructures.
As part of the Global Money Week international campaign, the finals of the Financial Literacy Championship among students of higher educational institutions of Uzbekistan took place.
ROSEKSIMBANK JSC, a member of REC Group, and one of the largest banks of Uzbekistan Agrobank, within the framework of the INNOPROM international industrial exhibition in Tashkent, signed a loan agreement to finance the supply of Russian equipment to Uzbekistan for the production of modified bitumen.
Fitch Ratings has assigned Joint-Stock Commercial Mortgage Bank Ipoteka-Bank’s (Ipoteka) upcoming issue of Uzbekistan soums-denominated senior unsecured Eurobonds an expected long-term rating of ‘BB-(EXP)’/’RR4’.
Moody’s Investors Service ("Moody’s") has assigned B2 insurance financial strength ratings (IFSRs) to Euroasia Insurance JV LLC (EAI). The outlook is stable.
S&P Global Ratings said that state- and foreign-owned banks in Uzbekistan performed generally above expectations in 2020 despite the pandemic. However, the sovereign's creditworthiness constrains our ratings and outlooks on the banks. Results for privately owned banks in 2020 were mixed, and while some outperformed peers, some small banks’ performances were challenged in 2020.