In order to improve knowledge, qualifications and skills of employees of the central office and structural divisions of the Ministry of Finance of Uzbekistan, as well as increase their potential, on August 11, 2020, an online seminar on the topic "The Impact of the Coronavirus Pandemic on the Modern Financial System" was held by the department of human resources and the Training center of the Ministry of Finance.

The seminar was attended by employees of the Department of Tariff Policy and Reform of State Enterprises of the Ministry of Finance, the Institute for Fiscal Research, the Department for Coordination of Reform of Commercial Banks with state participation and the Training Center.

In the course of the seminar, the head of the Research Bureau of the Training Center, Candidate of Economic Sciences, Associate Professor Gulnora Achilovna Melibayeva provided detailed information on the analysis of the the coronavirus pandemic in the world and its impact on the global economy, an influence of the coronavirus pandemic on modern financial systems and scenarios for recovering from the crisis. Within the framework of the topic, the participants received detailed answers to their questions.

As a result of the seminar, the following conclusions were reached:

•The global crisis caused by the sthe coronavirus infection dissemination is not an ordinary cyclical recession, but a shock that can lead to a serious change in the organization of the world economy and social structure;
•A specific feature of the COVID-19 crisis is the presence of a large number of affected populations and human casualties;
•Each country develops its own measires to overcome the existing crisis;
•The most important condition in the period of extraordinary crisis is to stabilize large-scale financial, technological and human resources, which is one of the strengths of centralized systems;
•Additionally, a very important social aspectnis present: in the period of self-isolation, the pandemic forced us to reconsider our life plans, values and priorities. We have to ensure despite the types of occupations we have, each of us contributes to make the economy strong and help overcome such crises.

Source: Ministry of Finance of the Republic of Uzbekistan