From May 27 to 31 of this year, the Central Bank of Uzbekistan hosted a technical advisory mission by World Bank Treasury experts.
During this mission, special training sessions were conducted, focusing on the role of diversification in managing international reserves, including investments in foreign government fixed income securities, risk assessment, and the proper organization of the workflow within the Central Bank's relevant structural units.
Specifically, capacity-building workshops were carried out with the Central Bank’s relevant divisions addressing issues such as risk management in securities investments, conducting trading and settlement operations, and establishing accounting and compliance controls.
Notably, for the first time in our country’s history, the Central Bank made initial investments in fixed income securities with the goal of diversifying its reserves and established corresponding portfolios.
At the conclusion of the mission, the World Bank Treasury experts provided recommendations for improving international reserve management practices and enhancing the activities of the relevant structural units. An agreement was reached to continue work on expanding the range of financial instruments in international reserves and to further enhance the qualifications of Central Bank employees.
