Otabek Tojiddinov

I am a Director of the Foreign Exchange Regulation and Supervision Department at the Central Bank of the Republic of Uzbekistan, with more than 15 years of professional experience in central banking, foreign exchange regulation, macroeconomic policy, balance of payments, financial sector development, and public finance.

Throughout my career at the Central Bank, I have held progressively senior positions in foreign exchange regulation, balance of payments, SME support, and commercial bank investment portfolio monitoring. In my current role, I lead the development and implementation of the foreign exchange regulatory framework, including measures related to capital flow management, and oversee the smooth functioning of banks’ FX operations for individuals and businesses.

My responsibilities include coordinating foreign exchange and external sector statistics and preparing analytical assessments for the CBU Board on current account operations, capital flows, FX market conditions, exchange rate developments, liquidity, external vulnerabilities, and international reserves. I also develop risk-based approaches to FX supervision, conduct compliance assessments, analyze systemic and non-systemic risks, and formulate policy proposals to address FX exposures, resource allocation challenges, and balance-of-payments pressures.

I contribute to the CBU’s response to exchange rate and balance-of-payments crises, including the assessment of appropriate policy measures and market interventions. I also work closely with government agencies, international institutions, and technical assistance missions, including IMF initiatives on capital account liberalization and the risks associated with greater financial openness.

Alongside my policy and supervisory responsibilities, I lead the department, develop staff expertise, and promote high standards of analytical and operational capacity.

I hold an M.A. in Public Economics from the National Graduate Institute for Policy Studies (GRIPS) in Tokyo, specializing in Macroeconomic Policy, as well as Master’s and Bachelor’s degrees in Finance from the Tashkent Institute of Finance.