In the first quarter of this year, guest workers in Russia sent over US$1.2 billion through different international money transfer systems to the countries of CIS. Most money is sent to Ukraine - US$220 million, followed by Tajikistan - US$198 million, Uzbekistan - US$178 million, Armenia - US$133 million, Azerbaijan - US$115 million, Moldavia - US$114 million, and Georgia - US$102 million.
Russia’s VTB Bank (Foreign Trade Bank) intends to invest up to US$1.5 billion by mid-2008 in acquiring banks in the Commonwealth of Independent States (CIS) and increasing the capital of its subsidiary banks in the CIS, VTB Bank President Andrei Kostin said attending an international banking conference on Friday.
A wide range of economic reforms being carried out by the state in Uzbekistan continuously evoke the interest and cause hot debates among large business corporations and financial institutions all over the globe.
Extraordinary and Plenipotentiary Ambassador of Kazakhstan to Uzbekistan Askar Myrzakhmetov held talks with leadership of Uzbekinvest national export-import insurance company.
International Monetary Fund (IMF), the Government and the Central Bank of the Republic of Uzbekistan issued the following statement (translated from the original statement in Russian) on 13 June 2007 based on the results of the IMF mission’s visit to Tashkent:
A mission of the International Monetary Fund (IMF) visited the Republic of Uzbekistan from 4 June through 13 June 2007. The mission was headed by Ms. Sena Eken, assistant director in the Middle East and Central Asia Department of the IMF.
A delegation of the Board of Directors of the Asian Development Bank (ADB) started five day visit to Uzbekistan on 15 June, the ADB Resident Mission in Uzbekistan said in its press release.
Ravnak Bank, a private joint-stock commercial bank, received the General License of the Central bank of Uzbekistan No. 29 allowing it to perform operation in foreign currency on 4 June 2007.
On 3 - 8 June 2007, a delegation of Uzbekistan participated in the study tour to learn the system of risk analysis in State Revenues Service of Latvia. The visit was organized by UNDP “Improving Tax Administration n Uzbekistan” Project jointly with International Financial Corporation (IFC).