Uzbekistan and the IMF discussed public finance management

Uzbekistan and the International Monetary Fund held talks on the further development of public financial management and fiscal governance. According to the Ministry of Economy and Finance of Uzbekistan, the meeting took place on August 24. It was attended by Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, and Amanda Sayegh, Senior Economist in the Public Financial Management Division of the IMF's Fiscal Affairs Department.

During the dialogue, the parties discussed prospects for cooperation with the IMF, as well as key areas of reform in fiscal management and public financial management.

Particular attention was paid to fiscal development goals and measures already being taken. Participants also discussed next steps to improve the public financial management system.

Fiscal risks were one of the topics discussed. Representatives of Uzbekistan and the IMF exchanged views on their identification, assessment, monitoring, and consideration of the potential impact of such risks on the stability of public finances. They also discussed ways to further improve fiscal risk management mechanisms.

In addition, the negotiators discussed issues related to the formation of state budget revenues and expenditures, including improving planning and forecasting processes, as well as the effective management of budget resources.

Separately, issues of consistency in financial planning and improving the effectiveness of budget management were discussed.

Following the meeting, the parties confirmed their intention to continue cooperation and deepen the exchange of views on fiscal management and public finance.