Uzbekistan plans to improve its OECD credit risk rating within a year

Source: Xinhua| 2019-02-28 22:36:19|Editor: yan
Video PlayerClose

TASHKENT, Feb. 28 (Xinhua) -- Uzbekistan plans to improve its credit risk rating with the Organization for Economic Cooperation and Development (OECD) within a year to another point, the country's Deputy Prime Minister Elyor Ganiev said on Thursday.

Earlier in February, the OECD improved Uzbekistan's credit risk rating, moving the Central Asian nation's position from point 6 to point 5. Countries which also have a point-5 position include Kazakhstan, Azerbaijan, Brazil, Turkey, Serbia and Vietnam.

Ganiev was speaking during the meeting of the Uzbek-British Council on trade and industry held Thursday in Tashkent.

Ganiev said that while the upgrade of Uzbekistan's position by the OECD was a recognition of the systemic changes that have taken place here over the past two years, the country had every chance for a better credit risk rating.

An improvement of Uzbekistan's position in the classification of the country's credit risks significantly reduces the insurance premium for attracted loans under the guarantee of export-credit agencies.

Uzbekistan has placed its debut 1 billion U.S. dollars in Eurobonds this month.

The OECD score is set on a seven-point scale. Countries that have a point 1 score are countries with minimal risks, while those with a point 7 rating are the countries with the greatest risks.