FAX: [1] (202) 293-6804
consulate(s) general: New York
Diplomatic representation from the US: chief of mission: Ambassador
John Edward HERBST
embassy: 82 Chilanzarskaya, Tashkent 700115
mailing address: use embassy street address; US Embassy Tashkent, Department of State, Washington, DC 20521-7110
telephone: [998] (71) 120-5444
FAX: [998] (71) 120-6335
Flag description: three equal horizontal bands of blue (top), white, and green separated by red fimbriations with a white crescent moon and 12 white stars in the upper hoist-side quadrant
Uzbekistan Economy
Economy - overview: Uzbekistan is a dry, landlocked country of which 10% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Uzbekistan is now the world's third largest cotton exporter, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. Following independence in December 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. Faced with high rates of inflation, however, the government began to reform in mid-1994, by introducing tighter monetary policies, expanding privatization, slightly reducing the role of the state in the economy, and improving the environment for foreign investors. The state continues to be a dominating influence in the economy and has so far failed to bring about much-needed structural changes. The IMF suspended Uzbekistan's $185 million standby arrangement in late 1996 because of governmental steps that made impossible fulfillment of Fund conditions. Uzbekistan has responded to the negative external conditions generated by the Asian and Russian financial crises by tightening export and currency controls within its already largely closed economy. Economic policies that have repelled foreign investment are a major factor in the economy's stagnation. A growing debt burden, persistent inflation, and a poor business climate led to stagnant growth in 2000, with little improvement predicted for 2001.