“This is a minimal index providing stable economical situation in the country. Uzbekistan has no short-term and so-called speculative loans in her investment portfolio. Its bank system now works stable and doesn’t face liquidity crisis,” Ganiev said.

In May, 2008, Uzbekistan’s combined external dept made up 17% to GDP or 4,791,650,000,000 Uzbek sums [over $3,672,000,000,000], department of forecast and monitor of macroeconomic parameters of Uzbek Ministry of Economy told Trend Capital.

In February 2008, president Islam Karimov, delivering a report on results of socio-economical development of Uzbekistan, said: “It is not secret that today one of serious and difficult problems many countries face is a soaring volume of debts and illiquidity of bank assets. It is noteworthy that the volume of our external debts is characterized with the lowest parameters according the international measures. This includes Uzbekistan to the list of the most reliable and solvent partners guaranteeing timely payments.”