Tashkent, Uzbekistan (UzDaily.com) - The Central Bank of Uzbekistan does not consider and does not plan to cover losses of borrowers from foreign exchange revaluation, introduce a preferential conversion rate and convert foreign currency loans into soums at a preferential rate. This was reported by the press service of the regulator.

“The measures proposed in the issue have their negative effects and are not recommended by international financial institutions (IMF and WB),” the Central Bank notes.

The regulator notes that any financial instrument, including currency credit, includes certain risks (currency risk, interest rate risk, etc.). All risks must be taken into account by the borrowers on their own when deciding on obtaining a foreign currency or other kind of loan.

At the same time, in order to support borrowers during a coronavirus pandemic, commercial banks prolong loan payments and do not accrue interest and penalties on overdue debts, the regulator emphasizes.