As part of the World Bank mission, the Central Bank of Uzbekistan has invested funds in foreign government securities.
From May 27 to 31 of this year, a technical support mission from World Bank Treasury experts was in Uzbekistan.
During the mission, special training sessions were conducted on the importance of diversification in the management of international reserves, including investing in foreign government securities, risk assessment, and the proper organization of the work processes of the relevant structural divisions of the Central Bank.
In particular, during the mission, work was carried out to enhance the qualifications of the relevant divisions of the Central Bank on issues such as risk management when investing in securities, conducting trading and settlement operations, establishing accounting practices, and compliance.
Furthermore, as part of the mission and with the aim of diversifying reserves, the Central Bank conducted initial investment operations in securities and formed corresponding portfolios.
As a result of the mission, recommendations were received from World Bank Treasury experts on improving the system of international reserves management and the activities of the relevant structural divisions. Additionally, an agreement was reached on further actions to include new financial instruments in the reserve structure and to improve the qualifications of the Central Bank staff.