The IMF and the World Bank Financial Sector Assessment Program (FSAP) launched in Uzbekistan

The International Monetary Fund and the World Bank has launched the second mission of the Financial Sector Assessment Program (FSAP), which will be held from February 26 to March 12. 

A joint team of experts from the IMF and the World Bank will assess the insurance sector, capital markets, payment systems, the corporate sector, and macroprudential policies. The assessment mission will also include stress tests, systemic risk analysis, including linkages between banks and non-bank institutions. 

In addition to the Central Bank, the Ministry of Economy and Finance, the National Agency for Prospective Projects, commercial banks, payment organizations and other relevant agencies will also participate in the working sessions with experts.

For reference: The FSAP was introduced by the IMF in cooperation with the World Bank since 1999, with the aim of a comprehensive and in-depth analysis of the stability of the country’s financial sector. While the IMF focuses on stability aspects, the World Bank emphasizes the development needs of the financial system. Following the program, recommendations for further reforms are provided, as well as support in strengthening the financial system's capacity.