IMF experts assess banking system of Uzbekistan as "stable" and level of debt as "low"
2012-07-02 11:58:34
Central Bank of Uzbekistan in cooperation with the experts of International Monetary Fund organized an international conference, which attracted 300 representatives of the banking system of Uzbekistan.
The conference was dedicated to stress-testing to determine financial conditions, scoring-analysis and liquidity of commercial banks of Uzbekistan. The Central Bank of Uzbekistan said that it is held for the first time in the CIS region.
The bank said that importance of risk management in banking sector is growing as banks and supervision bodies acknowledge importance of ensuring quality risk management for successful business and reliability of the system as a whole.
IMF experts noted that in condition of global financial crisis, complex of anti-crisis measures and ensuring stability of financial sector, adopted in Uzbekistan, were important to smooth and neutralize impact of crisis. They said that support of business and social protection of population was also vital.
It was said that Uzbekistan achieved dynamic economic growth, stability of banking system and low level of debt.
The conference said that IMF experts analyzed the banking system of Uzbekistan and made several proposals.
IMF economist Heiko Hesse shared his opinion on development of the banking sector of Uzbekistan. In post-crisis period, IMF positively rated sustainability of the banking sector of Uzbekistan in its reports.
This means that banks in Uzbekistan can execute their liabilities in time, diversify assets, manage risks, which are part of banking operations.
During the event, the participants discussed introduction of stress-tests as method of assessing credit portfolio sensitivity to significant changes to macroeconomic development. It was said that stress-testing can be used to assess risks in stress conditions, which will allow to select strategy to avoid these risks and overcome stress situations.