UZBEKISTAN’S CURRENCY REFORMS: A STEP FORWARD IN COMBATING THE SHADOW ECONOMY
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Recent reforms in Uzbekistan’s currency regulation and financial control systems have played a significant role in promoting transparency and reducing the country’s shadow economyAbstrak
This article examines Uzbekistan's recent currency reforms aimed at enhancing financial control and reducing the shadow economy. Following the liberalization of currency exchange policies in 2017, the country has made significant strides in attracting foreign investment and improving economic transparency. Despite these advances, challenges remain, with a substantial portion of the economy still operating informally. This article discusses the importance of strengthened financial control mechanisms, including anti-money laundering measures, and the potential role of financial technology in promoting compliance and reducing reliance on informal channels. Ultimately, the balance between liberalization and regulatory oversight is essential for fostering sustainable economic growth and transparency in Uzbekistan.
