Regulatory Alerts1996-08-29 | 263-IAdded · Updated
Law of the Republic of Uzbekistan on Attracting Funds from Abroad
The Law defines key terms including foreign debt, state borrowing, and total external debt, and establishes that relations regarding attracting funds from abroad are regulated by this Law and other legislation, while state debt is governed separately. It outlines methods for attracting funds such as loans, imports, deposits, leasing, and securities issuance, and imposes obligations on borrowers to fulfill contracts, report to the Central Bank or Ministry of Finance, and notify the Central Bank upon full repayment. The Central Bank is empowered to negotiate with international financial institutions, register non-guaranteed borrowing contracts, maintain a database of external debt, and provide information to the Cabinet of Ministers, while disputes are resolved through courts or arbitration unless international treaties stipulate otherwise.
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