The Decree of the President of the Republic of Uzbekistan “On further improvement of resource taxes and property tax”
The President of the Republic of Uzbekistan signed the Decree “On further improvement of resource taxes and property tax” No.UP-6121 dated 03.12.2020 (the “Decree No.UP-6121”) to improve the property and land taxation.
Fitch assigned 'BB-' final rating to Ipoteka-Bank's debut Eurobonds in Uzbekistan
Fitch Ratings assigned Ipoteka-Bank's debut Eurobond issue of USD 300 million with a 5.5% interest rate maturing in 2025 with a final rating of 'BB-'. Ipoteka-Bank uses proceeds from the issue mainly for lending in foreign currency to local borrowers in Uzbekistan.
S&P Global Ratings assigns rating to Uzbekistan at BB- /B
S&P Global Ratings has affirmed the Republic of Uzbekistan's long-term and short-term sovereign credit ratings for foreign and national currency liabilities at the BB-/B level. The rating outlook remains Negative.
EC grants Uzbekistan the status of a beneficiary of the GSP +
On 30 November 2020, the European Commission took an early positive decision on the application of the Republic of Uzbekistan to obtain the status of a beneficiary of the Generalized System of Preferences plus (the “GSP +”).
Uzbekistan received observer status in the Eurasian Economic Union (EAEU)
On 11 December 2020, the Supreme Eurasian Economic Council adopted a decision on granting a status of observer to Uzbekistan during its meeting, where the President of Uzbekistan participated.
Amendments to the legislation of Uzbekistan
On December 2, 2020 the President of the Republic of Uzbekistan has approved the Law “On amendments to certain legislative acts of the Republic of Uzbekistan in connection with the adoption of measures to mitigate the negative impact on economic sectors of the coronavirus pandemic and global crisis phenomena”.