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U.S. Department of the Treasury will send permanent consultants to Uzbekistan to support financial sector’s sustainable development

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U.S. Department of the Treasury will send permanent consultants to Uzbekistan to support financial sector's sustainable development

During the visit to the United States, Deputy Minister of Finance of the Republic of Uzbekistan Odilbek Isakov held a meeting with Deputy Assistant Secretary for Technical Assistance Policy of the U.S. Department of the Treasury Larry McDonald.

Cooperation prospects for building institutional and human potential in fiscal policy, public debt and investment management system, development of capital market, tax administration, as well as improving the efficiency of budget process were discussed.

Following the meeting, the Embassy of Uzbekistan in Washington held a ceremony of signing technical specifications for implementation of programs to build financial capacity in such areas, as budget planning, development of local capital market for government securities and improving the practice of public debt management.

An agreement was reached on organizing several visits to Uzbekistan in November 2019 by experts of the U.S. Department of the Treasury to develop cooperation plans for implementation of designated areas of cooperation. The expert group will also include future consultants involved in departments of Uzbekistan on a long-term basis (from one to three years).

According to the Embassy of Uzbekistan in Washington, the U.S. Department of the Treasury intends to appoint three consultants to the Ministry of Finance, the State Tax Committee and Agency for Development of Securities Market, as well as attract experts from other U.S. specialized agencies, including Securities and Exchange Commission of the United States.

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