The influence of the world bank on the economic development of the republic of Uzbekistan

This article examines the phenomenon of economic development in Uzbekistan in recent years: increased activity of international financial organizations in the republic has ensured high rates of economic growth due to liberalization of the country’s external sector, but has not made this growth more inclusive and sustainable. The example of Uzbekistan shows that the influence of the World Bank on the economic policy of developing countries is limited. It increases when their governments turn to international organizations for loan financing while experiencing shortages of domestic financial resources to stimulate economic growth. The World Bank can insist on reforms to increase the integration of their economies into the global economy and on transforming some particular sectors. However, structural transformation of the economy is possible only if the appropriate policy is followed by the government.