On April 1-11, 2019, the World Bank and International Monetary Fund technical assistance mission visited the Ministry of Finance of the Republic of Uzbekistan within the framework of the Medium term Debt Management Strategy (MTDS).

The main objective of the mission was to assist the Ministry of Finance of the Republic of Uzbekistan in processing into medium-term market-based financing, in improving its analytical capacities through the development of a Medium Term Debt Management Strategy (MTDS) as well as the local debt market.

Within the framework of technical assistance meetings, the members of the mission had meetings with the management of the Ministry of Finance of the Republic of Uzbekistan, relevant departments of the Ministry, representatives of the Central Bank of the Republic of Uzbekistan and commercial banks (National Bank of Uzbekistan, Uzpromstroybank and Ipoteka Bank).

The mission consisted of the following experts:

Lilia Razlog – Senior specialist, Head of the Mission, World Bank;

Diego Rivetti – Senior Debt Specialist, World Bank;

Miriam Tamene – Senior Expert, International Monetary Fund;

Alla Mirvoda – Economist, International Monetary Fund.

During the visit, members of the mission, along with the Debt Management Office team of the Ministry of Finance’s “State sovereign, corporate (bank) debt and government debt” and the heads of “International Financial Relations”, formed the necessary macroeconomic, fiscal and public debt data.

At the same time, representatives of the mission held a seminar training MTDS for the staff of the Ministry of Finance of the Republic of Uzbekistan. Based on the outcomes of the training, analyzes and various macroeconomic scenarios, priority projects of the four public debt management strategies have been developed for the Republic of Uzbekistan in the medium term.

In the future, the Ministry of Finance is planning to develop a Medium-Term Strategy for Public Debt Management under these primary projects.

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