My profile:
ALMATY, Kazakhstan () -- Uzbekistan on Tuesday signaled a new era of tighter monetary policies.
Central Bank chairman Faizulla Mullazhanov said easy credit in the past had been responsible for high inflation and the disastrous performance of the former currency, the som-coupon. In an interview published in Uzbekistan's official Narodnoye Slovo newspaper, he said the Central Asian state's new som currency, issued July 1, would not suffer a similar demise.
"In the second quarter the Central Bank has limited credit and cash emissions and taken a course of strict monetary and credit policies," he was quoted as saying. "From now on the central bank is not going to give favorable credits.
Uzbeks Cut Easy Credit
24 August 1994
|
|
Tweet |
|
This article has no comments. Be the first to leave a comment |
Discussion
Comments
To post comments you must be registered
Comments via Facebook
Most Read
1.
Soviet Crooner Khil Dead at 77
Brezhnev-era crooner Eduard Khil, a People’s Artist of Russia who rose to international acclaim in recent years as the “Trololo Man” after footage of his jolly yodeling became an Internet sensation, died early Monday in St. Petersburg.
2.
Putin Vows to Stand by Europe's Side
President Vladimir Putin on Monday offered European Union leaders help in their fight against a deepening debt crisis, on the same day that the ruble slid to new lows against the euro.
3.
Pussy Riot Case Enters Next Stage
The preliminary investigation of the Pussy Riot affair has been completed, allowing the defense to begin examining evidence against the women accused in the case.
4.
Euro 2012 Leaves Ukraine Rocked by Racism Controversy
Victor Chikelu, a Nigerian medical student, was punched and told to go back to Africa by a drunk in the Kiev subway two years ago.
5.
Peskov: BP Move Not Bad Signal for Investors
The Kremlin doesn't believe that BP's possible departure from its Russian joint venture would be a bad signal for other foreign investors.
6.
Lessons for Investors From TNK-BP
The highly depressed valuations on the stock market today would have you believe that Russia is a sort of a hybrid of a Las Vegas roulette wheel with an economic profile to make even Greece look attractive.
7.
Russians Convicted as Mercenaries in Libya
A Libyan military court sentenced two Russians, 19 Ukrainians and three Belorussians to long prison terms Monday for serving as mercenaries for Moammar Gadhafi during the conflict that led to his overthrow last year.
8.
Medvedev Says Putin Swap Was 'Honest'
Prime Minister Dmitry Medvedev insists that swapping places with President Vladimir Putin was an "honest decision."
9.
Soviet Children's Fear of Being Left Alone
One of the issues that has troubled me most since I began teaching in Russia did not surface in my classes until more than a year had passed.
10.
United Russia Pushes for Military Training in Schools
A group of United Russia deputies wants to reinstate Soviet-era military training in high schools to promote patriotism and fondness for the armed forces.
1.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
2.
Soviet Crooner Khil Dead at 77
Brezhnev-era crooner Eduard Khil, a People’s Artist of Russia who rose to international acclaim in recent years as the “Trololo Man” after footage of his jolly yodeling became an Internet sensation, died early Monday in St. Petersburg.
3.
McFaul Faces Kremlin Scorn Once Again
The Foreign Ministry assailed U.S. Ambassador Michael McFaul for comments the ministry said went "far beyond the bounds of diplomatic etiquette."
4.
Prominent Businessman Shot Near FSB Headquarters
A prominent business leader was shot and wounded by three masked men in the heart of Moscow on Friday — just steps away from FSB headquarters.
5.
Putin's Final Act
Russians are usually patient and slow to rebel, but once they have turned on their leader, they don't stop until he is out.
6.
U.S.-Russian 3-Year Multientry Visa Bill to Go to Duma
After months of delays, the government has finalized a much-touted visa agreement with the United States and drafted the corresponding bill.
7.
Putin's Foreign Policy Goes on the Road
In a symbolic gesture, President Vladimir Putin on Thursday arrived in Minsk to pay his first foreign visit as head of state to controversial Belarussian leader Alexander Lukashenko.
8.
Putin Denies Russian Role in Syrian Violence
Under mounting international pressure, President Putin denied that Moscow is fueling bloodshed in Syria with arms exports and that Russia unilaterally supports the Assad regime.
9.
European Debt Crisis Driving Workers East
Despite its inconveniences, Moscow has become a magnet for foreign job-seekers, as unemployment in Europe is hitting record highs amid the debt crisis.
10.
McFaul and State Department Respond to Attack
The U.S. ambassador and the U.S. State Department said they were surprised by blistering criticism from the Foreign Ministry regarding comments McFaul made to students last week.
1.
Hundreds of Arrests Set Grim Backdrop for Victory Day Celebrations
As Moscow gears up to celebrate its victory in World War II, 67 years ago Wednesday, the shadow of political conflict shrouds the capital as hundreds of arrests cloud Victory Day festivities.
2.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
3.
Russian Satellite Takes Highest-Ever Resolution Picture of Earth
A stunning 121-megapixel snapshot of the Earth was taken by a Russian weather satellite in what is thought to be the highest resolution picture of the planet ever taken from space.
4.
Bodies, No Survivors Spotted at Superjet Crash
Search and rescue helicopters and volunteers struggling through thick forest and mountainous terrain spotted bodies but no survivors on the Indonesian mountainside where a Sukhoi Superjet 100 crashed by the time darkness forced an end to the search Thursday night.
5.
Tabloid: Superjet Downed by U.S. Industrial Sabotage
A tabloid claims that Russian intelligence agencies are investigating the possibility that the U.S. military may have brought down the Sukhoi Superjet that crashed in Indonesia.
6.
Furniture Magnate Shot Dead in Mercedes in Moscow Region
A 46-year-old furniture magnate was killed with six gunshot wounds to the head and chest early Sunday as he arrived in his Mercedes at his home in the Moscow region.
7.
New Cabinet Has Familiar Cast of Characters
President Vladimir Putin on Monday announced the makeup of the new Cabinet answering to Putin and Prime Minister Dmitry Medvedev, with three-fourths of the members having been replaced.
8.
Soviet Crooner Khil Dead at 77
Brezhnev-era crooner Eduard Khil, a People’s Artist of Russia who rose to international acclaim in recent years as the “Trololo Man” after footage of his jolly yodeling became an Internet sensation, died early Monday in St. Petersburg.
9.
Superjet Missing in Indonesia With 50 on Board
A dark cloud was cast Wednesday on the revival of Russia’s aviation industry when a Sukhoi-built Superjet 100 with 50 people on board disappeared from the radar screens of Indonesian flight controllers.
10.
McFaul Faces Kremlin Scorn Once Again
The Foreign Ministry assailed U.S. Ambassador Michael McFaul for comments the ministry said went "far beyond the bounds of diplomatic etiquette."
