Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Finance hosted a meeting between Minister Timur Ishmetov and an International Monetary Fund (IMF) mission led by Chaba Feher, Senior Economist at the Department of Fiscal Affairs.

Deputy Minister Jamshid Abruyev, Executive Director of the Extrabudgetary Pension Fund Abdulaziz Haydarov and Director of the International Relations Department Azhiniyaz Kaipnazarov also attended the meeting on the Ministry's side, while economists of the IMF Fiscal Affairs Department Bole Bonthius and German Federal Pension Insurance Department Christoph Freudenberg participated on the guest side.

The IMF mission visited our country between 1 and 17 December 2021 to provide practical assistance to the Ministry of Finance in developing a draft Concept Paper on Pension System Reform in the Republic of Uzbekistan until 2030.

The IMF mission presented its final conclusions and proposals. There was an exchange of views on the current state of the pension system and the tasks for its development, the activities of the extra-budgetary Pension Fund, an analysis of its income and expenditure, as well as a long-term forecast of these indicators. The sides discussed issues related to the pension legislation, procedure of payment of pensions, recalculation and indexation of pensions and allowances.

At the end of the meeting, the sides agreed to continue co-operation on the development of the pension system of the Republic of Uzbekistan.