Uzbekistan’s Reforms:

A New Equation for Inclusive Growth and Cooperation

By Christine Lagarde, IMF Managing Director 
Central Bank of Uzbekistan —Tashkent, Uzbekistan

May 17, 2019

As prepared for delivery

Introduction & Theme

Ladies and Gentlemen: Good morning! Assalom-Aleykum!

Governor Nurmuratov, thank you for that generous introduction. First Deputy Chairman Ishmetov, thank you for welcoming me today. It is a pleasure to be with all of you.

Before I arrived yesterday, I was told about a famous Uzbek proverb: “ A guest is greater than the father.

As a guest in your country, I can say with confidence the hospitality of the people of Uzbekistan rivals that of anywhere in the world. All of us at the IMF are grateful. I did notice, however, this beautiful proverb makes no mention of where the mother stands in the hierarchy. I would like to think that she has a place of prominence at the very top. I will come back to this idea.

Now, of course, in addition to hospitality, there is another thing that one immediately thinks of when they arrive in Uzbekistan — historyFor nearly 1,000 years, this landlocked region was a hub of trade and transformation. It was in Tashkent, Samarkand, Bukhara, the Ferghana Valley, and many other places all around us that the Silk Road grew from a simple trading route into a place that captured the world’s imagination.

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