IMF Assistance To Uzbekistan In Overcoming The Problems Of The Socio-Economic Model Of Development

Abstract

For a long time, the leadership of Uzbekistan adhered to a socio-economic model with a focus on import-substituting industrialization and gradual liberalization of the financial sector. As a result of this approach, the country's interaction with the International Monetary Fund (IMF) and other international financial organizations was limited by a number of issues on which the vision of the Uzbek leaders coincided with the views of the experts of these institutions on the ways of developing the national economy of the republic. However, as soon as the Government of the Republic of Uzbekistan agreed to carry out the reforms recommended to it by the Bretton Woods institutions, opportunities for deepening integration into the world economy began to open up for the country.