TASHKENT, Sept. 22 (Xinhua) -- Uzbekistan should continue to advance reforms to achieve stronger, sustainable, and inclusive economic growth and to raise people's living standards despite the severe impact of the COVID-19 pandemic, the International Monetary Fund (IMF) said Monday.
After conducting a virtual staff visit to the country between Aug. 24 and Sept. 17, the IMF has concluded that the COVID-19 crisis "should not delay the reform of state-owned banks and state-owned enterprises -- including by improving their governance -- and the agricultural sector."
"As the crisis abates, the authorities should also continue with reducing the role of the state in the economy, opening up markets and enhancing competition, and improving the business environment," the IMF said in an end-of-mission statement.
While economic growth has slowed markedly, it is still expected to be moderately positive this year and to pick up pace in 2021 to about 5 percent, said the IMF.
Uncertainty remains exceptionally large, however, and an intensification or longer duration of the pandemic poses large downside risks, said the statement.
"The IMF stands ready to continue to support Uzbekistan in these efforts with policy advice, technical assistance, and financial assistance if needed," said the multilateral lender.
Uzbekistan has so far registered 52,491 COVID-19 cases, with 440 deaths and 48,606 recoveries. Enditem
