21:51 / 02.02.2019
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Uzbekistan rises in the international classification of solvency 

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 The Organization for Economic Co-operation and Development (OECD) has improved the position of Uzbekistan in the classification of country credit risk, Kun.uz correspondent reports citing data from the Ministry of Finance. 
  
The Committee, which includes export-credit and other agencies of member countries, annually analyzes quantitative and qualitative data from more than 200 countries of the world and divides them into seven categories according to the level of financial risks. The first group of countries – with the highest solvency, the seventh – with the lowest. 
 
“Uzbekistan in the updated classification of country credit risks, which was published by the OECD on February 1, improved its position and moved from the sixth to the fifth group,” the Ministry of Finance noted. In addition, group 5 includes Kazakhstan, Azerbaijan, Brazil, Turkey, Serbia and Vietnam. 
  
Among the CIS, Russia is in the 4th category, Azerbaijan and Kazakhstan – 5th category and most other republics – in the 6-7th. Along with Uzbekistan in the 5th group, such dynamically developing states as Brazil, Turkey, Serbia and Vietnam have been represented. 
 
Improving our country's position in the global risk classification will significantly reduce the amount of insurance liabilities on loans that Uzbekistan receives under the guarantee of export credit agencies. Moreover, it is expected that this will help successful placement of the first international bonds of the republic in the global financial markets. 
  
For many years, Uzbekistan has sent official applications for transfer from the 6th group, but earlier they did not produce results. In this regard, the current achievement is of historical significance.

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