Tashkent, Uzbekistan (UzDaily.com) -- On 2 November 2020, a meeting was held between the Chairman of the Central Bank Mamarizo Nurmuratov and the Adviser to the President of the Republic of Uzbekistan on economic development, effective management and international cooperation Suma Chakrabarti.

During the conversation, the Chairman of the Central Bank spoke about the current monetary policy and reforms in the country’s banking sector.

It was noted that despite the global coronavirus pandemic, which has affected the world’s leading economies, the regulator will continue reforms in accordance with the previously approved action plan.

Also, taking into account the situation in the world associated with the pandemic, the Central Bank approved the "Main directions of monetary policy for 2021 and the period 2022-2023", according to which forecasts of macroeconomic development are developed on the basis of 3 scenarios - the main, optimistic and risky.

During the conversation, special attention was paid to the issues of expanding cooperation in the field of reforming the banking sector. In particular, it was noted that at the first stage, the transformation of the banking system is planned by improving corporate governance in the banking sector. Further, at the second stage, it is planned to carry out comprehensive measures for the financial rehabilitation of banks, after which a phased privatization is planned with the withdrawal of the state share.

In this process, priority will be given to strategic investors who will be able to continue the ongoing structural transformations.

Suma Chakrabarti highly appreciated the work done by the Central Bank in the field of monetary policy and the banking sector, and expressed readiness to support joint work on the planned reforms.