Workshop on Debt Management and SOE Fiscal Risk Management Co-Hosted by the Ministry of Economy and Finance and Finasia Capital

Date: 13 March 2026

On 13 March 2026, the Ministry of Economy and Finance of Uzbekistan, in partnership with Finasia Capital, held a technical workshop dedicated to strengthening debt management practices and enhancing the oversight of fiscal risks associated with state-owned enterprises. The event was organized under the Asian Development Bank's TA 10178-UZB: Supporting Debt Management and Transparency.

The workshop convened representatives from the Debt Management Office (front, middle, and back offices), the SOE Fiscal Risk Department, the Treasury Committee, the Central Bank of Uzbekistan, and the primary dealer banks. This diverse participation ensured a comprehensive and practical discussion of current challenges and reform priorities.

International experts Dr. Reina Ichii and Adrian Jolliffe presented their findings under the assignment, shared international experience, and provided policy recommendations tailored to Uzbekistan's context. The presentations focused on developments in the local bond market, recent regulatory and market-driven evolutions, and potential areas for further improvement, alongside an assessment of fiscal risks arising from contingent liabilities borne by state-owned enterprises.

Participants actively contributed through questions, feedback, and suggestions, creating a highly interactive environment. The insights gathered during the workshop will inform the forthcoming reports and technical outputs being prepared under the TA.

The Ministry of Economy and Finance and Finasia Capital expressed appreciation to all participating institutions for their engagement and reaffirmed their commitment to advancing reforms that strengthen public debt management, deepen domestic capital markets, and enhance fiscal risk oversight.