Uzbekistan Unveils Ambitious Plan to Liberalize Currency Market
A draft presidential decree in Uzbekistan posted on a government portal on November 28 has laid out plans to liberalize the currency market, an apparent fresh step in acting President Shavkat Mirziyoyev’s mission to improve investment conditions and kick-start the moribund economy.
The draft has been posted online and internet users are being invited to offer suggestions and modifications before December 14.
In its current form, the decree proposes major financial reforms to “further liberalize and improve monetary policy, develop and increase the efficiency of the domestic foreign exchange market and improve conditions for the foreign transactions of enterprises.”
The US Department of Commerce details the plight endured by companies forced to navigate Uzbekistan’s onerous foreign currency rules.
To read the full story