Fitch Ratings maintained Uzbekistan’s Long-Term Foreign-Currency Issuer Default Rating at BB- with a Stable Outlook throughout 2020. “Uzbekistan has demonstrated resilience to the coronavirus pandemic, supported by its robust external and fiscal buffers, access to external financing and diversified economy. It was among the few sovereigns to avoid an economic contraction in 2020, as timely…
Minister of Public Administration Jaak Aab (Center) said the government would propose the reintroduction of wage support for areas hit by the latest round of restrictions. Speaking at a February 25 press conference, Aab said: “We’ve agreed to make a proposal to the Unemployment Insurance Fund’s council to weigh wage support in some form in…
State support to help overcome Covid-19 crisis should have been made wider as early as 2020, said Bank of Latvia council member Andris Vilks. “The biggest mistake Latvia committed last year was not providing sufficient support fast enough. The consequences of this are plain to see now. Covid-19 indexes are higher and people are unhappy,”…
Experts say the price of agricultural land in Ukraine may range from $1,000 to $2,000 per hectare (ha) in the first year after the launch of the country’s farmland market, but more accurate figures can be announced after the formation of supply and demand in the market. They made their comments during a press conference…
The Bank of Latvia has reported that the country is nearing a very high budget deficit level. On February 23, participants of the meeting of the government and Crisis Management Council were presented with the situation with the state budget program for emergencies, as well as the country’s macro-economic situation in general. According to outlooks…
Moody’s Investors Service said in its new report that the structural reforms that the Uzbek government had undertaken since 2016 had addressed many inefficiencies in the economy, but the most difficult reforms, which carried significant political and execution risk, were still ahead. “Uzbekistan’s current reform agenda is a source of both positive and negative pressures.…
The Board of the National Bank of Kyrgyzstan decided to raise the discount rate (key rate) by 50 basis points, to 5.5%. The change happened for the first time in 12 months. The National Bank of the Kyrgyz Republic notes that development of the world economy remains heterogeneous amid the impact of consequences of the…