In 1996, I became the head of the Finance Ministry's Policy Research Institute. I visited other countries in Asia and focused on discussions over policy with the authorities there.
Former Vice Minister of Finance for International Affairs Tadao Chino recommended that I visit Uzbekistan. After the collapse of the Soviet Union, the som, the local currency, went into circulation, but foreign exchange controls, as well as multiple exchange rates, had been put in place. I met with Prime Minister and Commerce Minister Utkir Sultonov and the finance minister in the capital, Tashkent, and pointed out that multiple market rates were hurting trade and investment. However, their response was muted.
