1994, the state-controlled media have repeatedly proclaimed the success of this "Uzbekistan Economic Model" and suggested that it is a unique example of a smooth transition to the market economy while avoiding shock, pauperism and stagnation. As of 2019, Uzbekistan's economy is one of the most diversified in Central Asia what makes the country an attractive economic partner for China. The gradualist reform strategy has involved postponing significant macroeconomic and structural reforms. The state in the hands of the bureaucracy has remained a dominant influence in the economy. Corruption permeates the society and grows more rampant over time: Uzbekistan's 2005 Corruption Perception Index was 137 out of 159 countries, whereas in 2007 Uzbekistan was 175th out of 179 countries. A February 2006 report on the country by the International Crisis Group suggests that revenues earned from key exports, especially cotton, gold, corn and increasingly gas, are distributed among a very small circle of the ruling elite, with little or no benefit for the populace at large. The early-2010s high-profile corruption scandals involving government contracts and large international companies, notably TeliaSonera, have shown that businesses are particularly vulnerable to corruption when operating in Uzbekistan. According to the Economist Intelligence Unit, "the government is hostile to allowing the development of an independent private sector, over which it would have no control". The economic policies have repelled foreign investment, which is the lowest per capita in the CIS. For years, the largest barrier to foreign companies entering the Uzbekistan market has been the difficulty of converting currency. In 2003 the government accepted the obligations of Article VIII under the International Monetary Fund (IMF) providing for full currency convertibility. However, strict currency controls and the tightening of borders have lessened the effect of this measure. Uzbekistan experienced rampant inflation of around 1000% per year immediately after independence (1992–1994). Stabilisation efforts implemented with guidance from the IMF paid off. The inflation rates were brought down to 50% in 1997 and then to 22% in 2002. Since 2003 annual inflation rates averaged less than 10%. Tight economic policies in 2004 resulted in a drastic reduction of inflation to 3.8% (although alternative estimates based on the price of a true market basket put it at 15%). The inflation rates moved up to 6.9% in 2006 and 7.6% in 2007 but have remained in the single-digit range. The government of Uzbekistan restricts foreign imports in many ways, including