• KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00224
  • TJS/USD = 0.10850
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
15 November 2026

Viewing results 1 - 6 of 2402

Pannier and Hillard’s Spotlight on Central Asia: New Episode Coming Sunday

As Managing Editor of The Times of Central Asia, I’m delighted that, in partnership with the Oxus Society for Central Asian Affairs, we are the home of the Spotlight on Central Asia podcast. Chaired by seasoned broadcasters Bruce Pannier of RFE/RL’s long-running Majlis podcast and Michael Hillard of The Red Line, each fortnightly instalment will take you on a deep dive into the latest news, developments, security issues, and social trends across an increasingly pivotal region. This week, the team looks at the role of clusters in Uzbekistan's farming sector, which is key to understanding what Mirziyoyev's comments about farmers receiving some $1 billion in profits from this year's cotton harvest really means. Special guest: Umida Niyazova, the director and founder of the Uzbek Forum for Human Rights.

Karakalpakstan Credit Rating: Fitch Assigns BB- With Stable Outlook

Fitch Ratings has assigned Uzbekistan’s Republic of Karakalpakstan a long-term credit rating of BB- with a stable outlook. In its first assessment of the republic, Fitch cited Karakalpakstan’s reliance on central government transfers and its limited power to raise revenue or borrow. The November 11 rating is below investment grade and applies to borrowing in both foreign and local currencies. The agency also assigned the republic a short-term rating of B. Within Uzbekistan, the Jizzakh and Fergana regions both have BB- ratings with stable outlooks. Outside the country, Yerevan in Armenia and Konya Metropolitan Municipality in Türkiye share the same long-term rating. Fitch classified Karakalpakstan’s risk profile as “Weaker,” but placed its financial profile at the lower end of the aa category. These assessments and a comparison with peers produced a standalone credit profile of bb-, Fitch’s grade for the republic’s own creditworthiness. Transfers from the central government accounted for 51% of Karakalpakstan’s operating revenue in 2025, while tax revenue made up 44%. Between 2021 and 2025, transfers averaged 58% of operating revenue. Changes in Uzbekistan’s tax and budget rules make that income hard to predict. The central government sets tax rates and determines how the proceeds are shared, limiting the republic’s ability to raise its own revenue during an economic downturn. Karakalpakstan also has little room to cut spending. In 2025, inflexible spending accounted for 76% of the republic’s total expenditure. Salaries represented about 30% of operating expenditure and are adjusted for inflation. Capital expenditure accounted for about 6% of total spending. Changes in the services regional authorities must provide have made it harder to plan spending, as has inflation, which averaged 10% a year between 2021 and 2025. Under Uzbek law, regional authorities cannot borrow directly on financial markets and rely mainly on loans from other levels of government. Some companies overseen by Karakalpakstan borrow from banks, but Fitch said their combined debt was small. At the end of 2025, the republic held 176 billion soums in cash, worth about USD 14.6 million at the year-end exchange rate. Most of that money was earmarked for specific expenses. The republic can draw on short-term loans from the central government to cover temporary cash shortages. Fitch’s baseline for 2026–2030 assumes that borrowing restrictions remain in place and that most new debt comes from the central government. The agency also tested how Karakalpakstan would fare if it borrowed on financial markets to fund higher capital spending while its operating surplus narrowed. Under that scenario, Fitch projects that net adjusted debt will peak at 8.7 times the annual operating surplus in 2030. The ratio measures how many years of surplus it would take to repay that debt. Karakalpakstan is Uzbekistan’s largest region by area, covering about 37% of its territory. Its 2.1 million residents account for about 5% of the national population. Over recent decades, the retreat of the Aral Sea has exposed vast stretches of seabed and cost local fishing communities their livelihoods. Agriculture and industry remain important to the republic’s...

ADB Approves $60 Million Loan for Livestock Farming in Uzbekistan

The Asian Development Bank has approved a $60 million concessional loan to help livestock farmers in Uzbekistan raise productivity and cope with drought and water shortages. The bank expects its Resilient Livestock Development Project to benefit about 29,000 smallholder farmers in the Bukhara, Kashkadarya, Navoi, and Samarkand regions and the Republic of Karakalpakstan. International financing totals $68 million, including a $5 million grant from the Green Climate Fund under the Glaciers to Farms Regional Program and a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific. Smallholders are particularly vulnerable to drought and extreme heat because they depend heavily on affordable feed and grazing land. The project will help farmers grow drought- and salt-tolerant fodder crops, restore livestock watering points, and improve pasture management. Women who raise livestock will receive training and support in fodder production. Veterinary services will also be expanded. The project will use AI to monitor pasture conditions, while a mobile app will give farmers advice and early warnings about weather-related risks. Uzbekistan produces about 1.6 million metric tons of meat a year, against domestic demand of 2.15 million, according to the president’s office. In August, President Shavkat Mirziyoyev reviewed proposals to expand meat and dairy production from 2026 to 2028. Officials estimate the measures could yield an additional 190,000 metric tons of meat and plan to allocate $463 million to livestock development. The government aims to revive 103 livestock enterprises that have ceased operations. Under the proposal, the enterprises could restructure their debts or repay them in installments over ten years. They would also receive breeding stock and land to grow fodder. Once operations resume, they could produce 12,000 metric tons of meat and 40,000 metric tons of milk annually. An assessment of 20 livestock complexes in Karakalpakstan identified outstanding debts totaling 109.6 billion Uzbek soums (about $9 million). Half were classified as high risk. Most lacked sufficient land for fodder and adequate infrastructure. The government also aims to make better use of 75,000 hectares of fodder land in 13 districts specializing in livestock farming. Another 802 proposed livestock projects are worth a combined 3 trillion soums (about $250 million). Planned imports include 150,000 sheep from Mongolia, 100,000 breeding cattle from China and European countries, and a further 2,000 cattle from Belarus. Uzbekistan spent $780.4 million on imported meat products in the first nine months of 2026, according to Customs Committee figures. That was 14.5% more than the $681.8 million spent in the same period of 2025.

Uzbekistan Proposes Regional Disaster Warning System at COP31

Uzbekistan has proposed establishing a joint early warning system for natural disasters in Central Asia. The plan also calls for greater climate data sharing and coordinated efforts to fund land restoration. The initiative was presented by President Shavkat Mirziyoyev on November 11 at the COP31 leaders' summit, part of the United Nations Climate Change Conference in Antalya, Türkiye. “No country can address the challenges of climate change on its own,” Mirziyoyev said. Mirziyoyev proposed beginning with the exchange of information on climate risks, supported by the World Meteorological Organization (WMO). The next step would be to establish common indicators for monitoring long-term changes, including glacier retreat. Two additional areas of cooperation would involve soil restoration technologies and new financing mechanisms for arid regions. For Central Asia, accurate forecasting has direct economic implications. Much of the region's river runoff originates in the mountains of Kyrgyzstan and Tajikistan, while most water withdrawals are used to irrigate agricultural land in Uzbekistan, Turkmenistan, and southern Kazakhstan. According to the World Bank, agriculture accounts for approximately 90% of freshwater withdrawals in the region. Information on snow cover, precipitation, and expected river flows allows authorities to adjust reservoir operations and irrigation schedules in advance. During the 2025 glaciological year, which ran from October 2024 through September 2025, most monitored glaciers in the Tian Shan and Pamir mountains experienced substantial mass loss. The WMO attributes this to insufficient winter precipitation and elevated temperatures between May and September. Glacier retreat is changing the seasonal distribution of river flows on which agriculture, hydropower generation, and water supplies depend. Shared Forecasts Instead of Fragmented Monitoring Central Asian countries already exchange some hydrometeorological information. With World Bank support, Kyrgyzstan and Tajikistan have modernized their monitoring networks and expanded data sharing with regional centers, including the existing WMO-designated regional meteorological center operated by Uzhydromet in Tashkent. According to the bank, the sharing of real-time observations has improved forecast accuracy and helped national agencies warn neighboring countries about flooding risks along transboundary rivers. The proposed mechanism would extend this practice to other climate threats. On November 10, the day before Mirziyoyev's address, WMO Secretary-General Celeste Saulo outlined possible functions for a new regional climate center serving Central Asia and the Turkic states at an event in Antalya. Such a center could produce seasonal forecasts, assess drought risks, and help national meteorological agencies monitor glaciers. Establishing the center would require agreed rules for data exchange, a division of responsibilities, and sustained funding. The WMO has emphasized that national meteorological services would retain responsibility for forecasts and warnings within their respective countries. Uzbekistan intends to address some of these issues during its 2027–2029 chairmanship of the International Fund for Saving the Aral Sea (IFAS). The fund was established by the five Central Asian countries in 1993 to promote cooperation on water management in the Aral Sea basin. On November 9, Mirziyoyev was presented with 133 projects worth a combined $3.3 billion. They include modernization of water management infrastructure, automated water monitoring and distribution, and a...

South Korea Expands Support for Farm Technology in Uzbekistan

South Korea is helping Uzbekistan mechanize rice planting, improve dairy cattle breeding, and grow strawberries year-round. The projects aim to raise farm output and conserve water while opening new markets for Korean equipment and technology. For farmers considering a modern greenhouse, the upfront cost remains a barrier. On September 14, 2026, South Korea’s Rural Development Administration (RDA) and Uzbekistan’s Ministry of Agriculture signed an agreement to expand specialist training. It was one of 13 cooperation documents signed in Seoul that day. Much of the work takes place through two initiatives overseen by the RDA. The Korea Partnership for Innovation of Agriculture (KOPIA) adapts farming technologies to local conditions. The Asian Food and Agriculture Cooperation Initiative brings countries together for joint research. By 2025, the RDA had trained 116 Uzbek specialists in fields including rice cultivation, livestock farming, horticulture, and agricultural advisory services. Rice Planting and Water Conservation Korean rice transplanters have been in use in Uzbekistan since 2018. The RDA reported that mechanized transplanting reduced labor requirements by 70% and increased productivity by as much as 52%. Its May 2026 announcement gave no figures for the trial acreage, the number of participating farms, or the starting levels of labor use and productivity. In August 2024, Uzbekistan approved plans to work with KOPIA on rice seed production centers in Gurlan District in the Khorezm region. The same resolution provided subsidies for 2025 and 2026 covering 20% of the cost of eligible new rice seeders and transplanting equipment. The RDA plans to expand the area used for high-quality rice seed production under its program from 83 hectares in 2025 to 200 hectares by 2027. Uzbekistan’s farms depend on the Amu Darya and Syr Darya, the main rivers of the Aral Sea basin, making water savings in rice cultivation particularly important. In 2024, Uzbekistan’s Ministry of Agriculture reported that drip irrigation used half as much water as conventional irrigation in a trial in Karakalpakstan. A July 2025 government resolution called for drip irrigation trials on at least 10 hectares in each of six regions in 2026. Whether those trials can match the savings reported in Karakalpakstan remains unclear. A separate provision assigned KOPIA a role in training rice seed producers. Dairy Cattle Breeding Embryo transfers allow farmers to breed cattle with desirable traits without importing large numbers of breeding animals. The RDA’s dairy demonstration program in Uzbekistan involved three farms. Of the 30 cows that received Korean embryos, 50% became pregnant, according to the agency. It put the typical pregnancy rate for other imported embryos at 30%. On May 13, 2026, Korean exporters and a farm in the Syrdarya region signed a letter of intent to supply the farm with Korean dairy cattle embryos. The following day, the RDA and the Uzbek agriculture ministry agreed to train specialists in livestock artificial insemination. The agreement also calls for simpler registration of veterinary medicines, which could make it easier for Korean suppliers to enter the Uzbek market. Smart Greenhouses and Strawberry Production With South Korean...

Remittances to Uzbekistan Rise 8.9% to $15.17 Billion in Nine Months

Uzbekistan received $15.17 billion in remittances in the first nine months of 2026, up 8.9% from the same period in 2025, according to the Central Bank of Uzbekistan. Most of the $1.24 billion increase came in the first half of the year, when remittances rose 13% year on year. Growth slowed to 2.9% in the third quarter. Outbound transfers from Uzbekistan totaled $1.95 billion over the nine months, compared with $1.93 billion a year earlier. Russia remains the largest overseas labor market for Uzbek citizens. Its share of remittances to Uzbekistan fell from 77.6% in the first quarter of 2025 to 72.4% in the first quarter of 2026. In the first half of 2026, remittances from Russia rose 8.8% even as Uzbek citizens made 13.2% fewer trips to Russia for work than a year earlier. They listed work as their reason for entering Russia on about 1.18 million occasions. A person who crossed the border several times for work was counted each time. Russia’s Interior Ministry said more than 260,000 foreign nationals and stateless people were barred from entering Russia from January through August 2026, up 75.8% from the same period in 2025. The ministry gave no separate figure for Uzbek citizens. Uzbekistan is seeking to expand employment opportunities for its citizens in other countries. In the first half of 2026, remittances from the United Kingdom rose by 62% year on year, those from European Union countries by 27%, and those from the United States by 19%. These labor markets still employ far fewer Uzbek citizens than Russia does.