Selected Issues Papers

The Sequencing and speed of Reforms in Transition Economies: Implications for the Case of Uzbekistan

By Alejandro Simone

June 27, 2025

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

Alejandro Simone. "The Sequencing and speed of Reforms in Transition Economies: Implications for the Case of Uzbekistan", Selected Issues Papers 2025, 086 (2025), accessed June 28, 2025, https://doi.org/10.5089/9798229015295.018

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Summary

Uzbekistan has made significant progress in its transition to a market economy since 2017, achieving advancements in macroeconomic stabilization, trade and exchange rate liberalization, price liberalization, and small-scale privatization. Despite these successes, challenges remain in reforming and privatizing large state-owned enterprises and banks and fostering a competitive market environment with easy market entry and exit. Future reforms should focus on entrenching macroeconomic stability, completing trade and price liberalization, hardening budget constraints for state-owned enterprises and banks, enhancing their corporate governance, accelerating privatization, and redefining the state's role to support private sector development.

Subject: Balance of payments, Capital account liberalization, Competition, Economic sectors, Financial markets, Financial regulation and supervision, Financial Sector, Financial sector reform, Fiscal policy, Fiscal stabilization, International trade, Privatization, Public enterprises, Tariffs, Taxes, Trade liberalization

Keywords: Capital account liberalization, Competition, Economic recession, Financial sector, Financial sector reform, Fiscal stabilization, Foreign exchange, Pace of Economic Reforms, Privatization, Privatization, Public enterprises, Sequencing of Economic Reforms, Tariffs, Trade liberalization, Transition Economics, Uzbekistan

Publication Details

You May Also Be Interested In...

Digital Payment Innovations in Sub-Saharan Africa

June 27, 2025

Union of the Comoros: Fourth Review under the Extended Credit Facility Arrangement and Request for Modifications of Performance Criteria and Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros

June 27, 2025

Demystifying Trade Patterns In A Fragmenting World

June 27, 2025

Bangladesh: Third and Fourth Reviews Under the Extended Credit Facility Arrangement and the Arrangement Under Extended Fund Facility, Requests for Extension of the Arrangements, Augmentation and Rephasing of Access, Modification of Performance Criteria, Waiver of Nonobservance of Performance Criterion, and Third and Fourth Reviews Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh

June 26, 2025