Scientific Collection «InterConf», (39): with the Proceedings of the 8th International Scientific and Practical Conference «Science and Practice: Implementation to Modern Society» (December 26-28, 2020) at Manchester, Great Britain

Komilov Bobirjon Shuhratjon o‘g‘li 
3rd year student of faculty of International Law and Comparative 
Law at Tashkent State University of Law, Republic of Uzbekistan 
 
INTERNATIONAL CREDIT RELATIONS AND SIMILARITY AND 
DIFFERENCES OF THE UZBEKISTAN CREDIT SYSTEM:
PROBLEMS AND LEGAL SOLUTIONS 
 
Abstract: This article discusses the importance, relevance and issues of credit activity 
in private international law. It also highlights the fact that despite the improvement of 
the credit system in Uzbekistan, there are still some legal problems, artificial barriers 
and ways to overcome them. 
Keywords: creditor, state budget, international creditor, G20 countries, collateral, 
International Court of Arbitration, currency, interest rates. 
 
Introduction 
In today's world, we can see that most countries are developing on credit or 
investment. The state budget cannot develop all its spheres at the same time. 
International credit, in turn, has a number of advantages: 1. International credit creates 
a favorable environment for foreign investment, 2. Credit ensures the continuity of 
international settlements and foreign exchange transactions that serve the country's 
foreign economic relations, 3. The credit increases the economic efficiency of the 
country's foreign trade operations and stimulates the development of other types of 
foreign economic activity. 
With the development of the times, the growth of the population of countries, the 
desire of people to make their lives easier and more convenient, the import and export 
of capital between countries is becoming more important in the international arena, and 
these relations make a significant contribution to economic development. Many 
developing countries, in particular, need foreign investment and credit. Most of the 
countries that export capital today are industrialized countries. 

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