DUSHANBE, July 30, 2008, Asia-Plus - The Board of Executive Directors of International Monetary Fund (IMF) held meeting in Tashkent on July 14 dedicated to discussions of the IMF personnel''s report on the outcomes of consultations with the Republic of Uzbekistan in line with the article IV of the IMF Charter in 2008.

The IMF Board of Executive Directors highly assessed the results of economic development of Uzbekistan characterized by the stably high rates of economic growth, gradual strengthening of macro-economic stability and successful accomplishment of structural reforms.

On the outcomes of discussions the Board concluded that balanced macro-economic policy and gradual accomplishment of structural reforms in Uzbekistan provided for sustainable high economic growth rates, further strengthening of positive trade and payment balance, growth of gold and currency reserves, as well as decrease of the state debt to one of the lowest levels among the countries with transition economies.

IMF Executive Directors noted the indicators of economic growth at the level of over 9 percent a year that puts Uzbekistan in the rank of most dynamically developing CIS countries.

The delegates to the Tashkent meeting paid a particular attention to the outpacing development of production, active attraction of foreign investments that have ensured expansion of GDP growth basis at the expense of such rapidly developing new branches of economy as gas and chemical, mining, heavy and light industry, transport, communications and services.