Uzbekistan boosts transparency with new central bank law
New law strengthens inflation targeting as country wrestles with ambitious reforms
Uzbekistan has overhauled its central bank law for the first time in more than two decades, handing the institution greater independence and strengthening its inflation-targeting mandate.
On November 12, Uzbek president Shavkat Mirziyoyev signed a decree to replace the 1995 central bank law. The Central Bank of Uzbekistan (CBU) said the new law’s 11 chapters and 72 articles more clearly specify the institution’s role in price stability and the oversight of banks and payment systems.
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