Why is this important
The sovereign rating directly influences the country’s borrowing terms. An increase lowers the cost of external loans and boosts investor confidence.
What happened
- The London Chamber of Commerce and Industry expressed its readiness to collaborate with the Chamber of Commerce and Industry of Uzbekistan and the businesses of the republic;
- The enhancement of Uzbekistan’s standing in global rankings was discussed with Fitch Ratings;
- Raising the rating is regarded as a recognition of the economic reforms being carried out in the country.
Context
Fitch notes Uzbekistan’s steady economic growth in recent years, manageable public debt, and ongoing structural reforms. Nevertheless, risks linked to external factors and reliance on raw material prices persist.
