Question

Please answers the question ASAP
Please write briefly about Uzbekistan financial crisis. It should be 150-200 words

Answer 1

The Uzbekistan economy was effected greatly by the global financial crisis in 2008. Many researchers and thinkers analysed the impacts of global financial crisis on the Uzbekistan's economy and gave few conclusions. They are -

1) The crisis had made a great impact on the liquidity position of many financial institutions and large banks.

2) This brought a heavy fall in market value and indices of large companies at the most highest stock exchanges of the world.

3) Due to these situations, there was a great fall in production and growth rate of the economy leading to unstable financial position.

4)It caused recession in the economy, decrease in investments, fall in volumes of international trading.

5)Their adverse effects on banking system, requires reforms in the financial systems and various actions to be taken in the securities and credit market.

The way to reformation and modernization acquired in Uzbekistan was a refusal to the ways of shock therapy was were imposed on the economy. Uzbekistan used various safety measures and required resources to have stable working of its economic, banking, financial, budget and credit systems.