Uzbekistan: President in intensive care

Posted by on Sep 21st, 2016 and filed under Allgemein, Breaking News, Markets. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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President Islam Karimov, 78 years old, is in intensive care after suffering a brain haemorrhage. President Islam Karimov – in power since 1990 – was re-elected for a 5-year term in March 2015.

Political power is concentrated in his hands and those of political elites.

Impact on country risk

Given the President’s illness and following the demise of his daughter Gulnara Karimova who was seen as his successor, the main question is what will happen when Karimov leaves power.

According to the constitution, the executive power should be transferred to the head of the Senate and early presidential elections should be called. The successor is likely to be chosen in closed-door bargaining between the heads of major clans, the security apparatus and the most powerful ministers.

No change of the political system is expected in case of smooth succession. Without consensus on a successor, political instability is likely.

Following the illness of the president, no cover policy change is expected. Indeed, the ST and MLT political risk have been downgraded to category 6 in December last year and in April this year respectively.

Country risk analyst Pascaline della Faille , Credendo Group

Credendo Group  has used its best endeavours to ensure that all the information, data, documentation and other material (copy and images) in thisreport are accurate and complete. Credendo Group accepts no liability for errors or omissions. The views expressed herein are the author’s personal views andare not intended to reflect the views of Credendo Group. Credendo Group will not be liable for claims or losses of any nature arising directly or indirectly fromuse of the information, data, documentation or other material from this report.


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