BAKU, Azerbaijan, August 10. Uzbekistan and the International Monetary Fund (IMF) discussed measures to strengthen fiscal transparency and align the country's public finance practices with international standards.
This was reflected in the statement by the Ministry of Economy and Finance of Uzbekistan following a meeting between Uzbek Deputy Minister of Economy and Finance Akhadbek Khaydarov and a delegation from the IMF's Fiscal Affairs Department.
The two sides reviewed the results of a preliminary assessment of Uzbekistan's fiscal transparency framework, as well as plans for further work and related organizational issues.
Particular attention was given to ongoing efforts to improve the openness and transparency of public finances and bring existing practices into closer alignment with international standards.
The participants assessed areas that already meet key fiscal transparency requirements, reviewed work completed to date and discussed measures to further strengthen existing mechanisms.
The discussions also focused on identifying priority areas for future improvements in fiscal transparency and public finance management.
"The parties agreed to exchange relevant information and continue work in the agreed areas in line with the next steps," the ministry said.
Strengthening fiscal transparency can improve the quality and accessibility of public finance information, giving investors, businesses and other stakeholders a clearer view of government revenues, spending and fiscal risks. For Uzbekistan, greater alignment with international standards could also support efforts to strengthen public financial management and institutional credibility.
The meeting underscores continued cooperation between Uzbekistan and the IMF on improving fiscal governance as the country advances broader economic and institutional reforms.
The sides agreed to maintain cooperation and exchange information as work continues on the priorities identified during the preliminary assessment.
