Uzbekistan looks to boost local capital markets after eurobond success

Lifting restrictions on foreign investors and encouraging local corporate bond issuance top list of priorities for head of new capital markets agency.

The head of Uzbekistan’s new capital markets agency is hoping to build on the success of the country’s debut sovereign eurobond sale to attract foreign banks and investors to its domestic market.

Atabek Nazirov_160x186
Atabek Nazirov,
CMDA

Atabek Nazirov, a former Goldman Sachs banker who returned to his homeland last May after eight years at the European Bank for Reconstruction and Development (EBRD), was tapped in late January to lead the restructuring of Uzbekistan’s capital markets.

“We are aggressively looking into all the obstacles in our legal environment and infrastructure to assess what we can do to give traction to our capital markets in the short term, as well as developing a comprehensive strategy that will lay the foundations for a long-term holistic approach,” he says.

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