Uzbekistan Liberalizing Forex Markets

Until recently, Uzbekistan had to face issues concerning currency convertibility, however, this is about to change as the reforms are announced to liberalize the foreign exchange markets, news outlets reported. The forecast is on the upward trend and the domestic economy may demonstrate growth should these reforms be implemented successfully. Free currency convertibility had been introduced from September 2017.  Other economic incentives include the launch of the new economic free zones, reduction of taxes and access to finance. The IMF has cautioned, however, that Uzbekistan’s reform journey will be challenging and long.