There are frequent healthy debates between the Ministry of Investment and Foreign Trade and the Ministry of Finance on various interagency platforms, Deputy PM Sardor Umurzakov said.
External debt is one of the most discussed topics in Uzbekistan in recent years. However, in discussions on this topic, it seems that all government agencies are often in a unanimous position: the public is not aware of the disputes between them.
In an interview with reporters, the Deputy Prime Minister – Minister of Investment and Foreign Trade Sardor Umurzakov said that his ministry often engages in healthy debates with the Ministry of Finance on foreign debt.
“Disputes take place in interagency commissions. We have a working group to review foreign debt projects, which I head. We also have a separate commission on general external debt, headed by the PM. In these formats we will have big debates. I discuss a lot with another minister, my deputy with another deputy minister.
Our external debt can be divided into two main areas. The first is external borrowing to support the budget. The second is external debt directed to projects. The Ministry of Investment and Foreign Trade is responsible for external borrowing for projects, and the Ministry of Finance is responsible for external borrowing to support the budget.
Therefore, in most cases, healthy debates take place with the Ministry of Finance. Both the Ministry of Finance and the Ministry of Investment and Foreign Trade have a separate deputy minister in charge of this issue. So it is on these issues that they work in constant discussion.
As you know, since last year the parliament has set a limit on attracting foreign debt and we are working within this framework,” Sardor Umurzakov said.
