AGP Executive Report
Last update: 4 hours agoIMF Talks: President Mirziyoyev met IMF Deputy Managing Director Bo Li to expand cooperation on Uzbekistan’s reform agenda, including digital payments, capital account liberalization, better statistics, public revenue management, and preserving a market-based exchange rate. Banking Health: Uzbekistan’s central bank reported non-performing loans at 3.7% of the loan portfolio (23.6tn soums) as of June 1, with big gaps between institutions. Sick Leave Reform: From July 1, the state social insurance fund will cover temporary disability benefits from day six; employers pay only the first five days, with payouts tied to insurance history. Minimum Wage Debate: Experts propose raising Uzbekistan’s minimum wage to 40% of the median salary by 2030 and delinking it from state payroll calculations. Gold Reserves: The central bank boosted gold holdings by 24 tonnes in Jan–Apr 2026, taking reserves to 414 tonnes and making gold about 88% of international reserves. IT & AI Exports: Uzbekistan targets at least $5bn in IT and AI service exports by 2030, building on rising IT Park exports and demand for AI-ready skills. Aviation & Cargo: IATA says Uzbekistan logged Central Asia’s fastest air cargo growth and doubled its flight network. Finance Markets: OTP Bank launched a €7bn EMTN programme on the Hong Kong Stock Exchange, aiming to tap Asian institutional investors. ESG & Platforms: Wildberries’ founder-led ESG push is highlighted as a model for platform-economy impact across Eurasia. Energy Connectivity: Kazakhstan, Azerbaijan and Uzbekistan are advancing a Caspian Green Energy Corridor to export renewable power to Europe via a planned submarine cable. Jobs Abroad: A $562m fund aims to create 10,000 jobs abroad. Business Climate: World Bank talks focus on structural reforms, SME support, poverty reduction, and accelerating privatization.
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