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Reception of the senior analyst of the consulting company "IHS Markit" in CER

05.09.2017

Reception of the senior analyst of the consulting company "IHS Markit" in CER

On September 4, 2017, at the Center for Economic Research, the Director of CER, Sh. Nazarov met with the senior analyst for CIS countries of the consulting company "IHS Markit", A. Melikishvili.

During the meeting, general issues of liberalization of currency regulation and currency control in the Republic were discussed, specific features of the development of the monetary policy of Uzbekistan were addressed, and the role of monetary policy in achieving macroeconomic stabilization was defined.

It was also noted at the meeting that the decree of the President of the Republic of Uzbekistan states that the exchange rate of the national currency in relation to foreign currency should be established with the "use of market mechanisms" - on interbank electronic trading of the currency exchanges "exclusively on the basis of supply and demand". In order to create market conditions for the formation of the exchange rate, the participation of the Central Bank in interbank trading will be minimized.

Within the framework of the bilateral meeting, the topics of import substitution and localization of finished products production were also covered. In addition, positive trends in industrial diversification in the context of globalization of economic relations were highlighted, priority directions of export of agricultural products, raw materials and food, as well as development of the non-primary sector of the economy of the Republic of Uzbekistan were considered.