Uzbek council formed to liberalise banking

UZBEKISTAN - Following a September visit from the IMF during which liberalization of the economy was discussed, Uzbek President Islam Karimov has moved to reform the banking system through a National Banking Council.

The Uzbek government has been under pressure from the IMF to achieve currency convertibility, the feasibility of which the IMF is monitoring ahead of renewing loans, suspended five years ago, reported. Following is the text of report by Uzbek web site on