Republic of Uzbekistan: 2026 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2026/152, IMF Staff Country Reports from International Monetary Fund

Abstract: Uzbekistan entered 2026 from a position of economic strength, reflecting sustained reform efforts, favorable terms of trade, robust investment, and strong inflows of income and capital. Fiscal and external positions have improved, providing an opportunity to entrench macroeconomic stability, rebuild buffers, and lock in recent disinflation gains. At the same time, policies must navigate a challenging environment characterized by strong domestic demand, higher energy prices, and elevated global uncertainty.

Pages: 112
Date: 2026-06-23
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