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Uzbekistan plans to obtain sovereign credit rating

The Government of Uzbekistan starts work on obtaining a sovereign credit rating, the Deputy Prime Minister of Uzbekistan Jamshid Kuchkorov stated.

Jamshid Kuchkorov noted that soon a decision of the President of Uzbekistan on obtaining a sovereign rating will be adopted.

He added that Uzbekistan is now at the initial stage of obtaining the sovereign credit rating. According to him, Uzbekistan can attract Citibank as a consultant or a consortium of banks. The decision on this will be adopted in near future, Kuchkorov said.

The Deputy Prime Minister of Uzbekistan said that a sovereign rating is needed to determine a kind of benchmark. He added that after receiving a sovereign rating, large companies and banks of Uzbekistan will be able to get ratings and raise funds in the market.

Kuchkorov stressed that the sovereign rating is a good mechanism for attracting funds and one of the ways to diversify sources of raising funds from abroad.

(Source: UzDaily.com)