“Currently, Eurobonds are traded freely on the market. Now, not only the World Bank and the International Finance Corporation (IFC) will provide feedback on government decisions. If the country's leadership makes the wrong decision, the market will immediately react negatively. I think this will allow the government to discipline the macroeconomy far better”, said Zafar Khashimov - head of the IFC's Uzbekistan office.
Uzbekistan will use Eurobonds as a tool for positioning and valuing the country on the international market, said the head of the International Finance Corporation's representative agncy in Tashkent, Zafar Khashimov, at the presentation of the report on the diagnosis of the private sector in Uzbekistan on February 18, 2019.
On February 14, 2019, Uzbekistan, for the first time in its history, placed two tranches of US $ 1 billion worth of Eurobonds. This financial instrument will allow a response to the reforms carried out in Uzbekistan, not only by the international institutions, but also by market participants, said Zafar Khashimov.
“Currently, Eurobonds are traded freely on the market. Now, not only the World Bank and the International Finance Corporation (IFC) will provide feedback on government decisions. If the country's leadership makes the wrong decision, the market will immediately react negatively. I think this will allow the government to discipline the macroeconomy far better”, said the head of the IFC's Uzbekistan office.
IFC Chief Financial, Competitiveness and Innovation Officer for Europe and Central Asia - Rolf Berndt, stated that it is much easier for the private market to access the capital markets after the Eurobond issue is released and a sovereign rating is obtained.