Fitch Ratings has affirmed Uzbekistan’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘BB-‘ with a Stable Outlook.

Uzbekistan’s ratings balance robust external and fiscal buffers, low government debt and a record of high growth relative to ‘BB’ rated peers’, against high commodity dependence and structural weaknesses in terms of low GDP per capita, an uncompetitive and large, albeit reducing, state presence in the economy, and weak, but improving, governance levels.

The full Fitch Ratings report can be found at the following link: https://www.fitchratings.com/research/sovereigns/fitch-affirms-uzbekistan-at-bb-outlook-stable-25-08-2023