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Risks
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Actions/Plans
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Economic Risk
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- Maintain flexibility in capex programme
- Introduce initiatives to improve cost efficiency and labor productivity
- Fleet diversification to achieve a higher client granularity
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Substantial Investment Requirements
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- Continued investments to refurbish, modernize the infrastructure, locomotive fleet and railcars
- The Government is expected to continue to provide support to fund strategic infrastructure projects
- Diversification of funding sources
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Staff Costs
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- Developed initiatives to optimize the use of labor force
- Redeployment and re-training to increase labor efficiency
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FX Risk
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- Natural hedge for exporters: UAH weakening is expected to increase the competitiveness of locally produced commodities
- UZ maintains a portion of FX transit revenue in US$
- Treasury monitors market risks and sensitivities
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Refinancing Risk & Interest Rates Risk
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- Plans to extend its debt maturity profile (incl. Eurobond)
- Developed robust funding and refinancing strategy
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