Foreign-exchange reserves to reach USD 4 billion


Today, May 26, Bank of Mongolia made a press briefing regarding the International Monetary Fund’s approval of Extended Fund Facility program for Mongolia. D.Orgil, spokesperson of the Bank of Mongolia (BoM) read the central bank’s statement, which reported that USD 38.6 million, an initial funding of the Extended Fund Facility program, has been funded to BoM… Read more »

Extended fund facility's first funding deposited into central bank


On May 25, Minister of Finance B.Choijilsuren and IMF Resident Representative Neil Saker made a briefing regarding the Executive Board’s approval of three-year extended arrangement under Extended Fund Facility (EFF) for Mongolia.   Later today, the Bank Mongolia reported that the funding of USD 38.6 million has been deposited into the central bank from the… Read more »

B.Choijilsuren: Green light turned on for economy


With regard to board of directors’ meeting of the IMF, representatives of the Ministry of Finance, Mongol bank and IMF are holding press conference right now. (2 P.M, Ulaanbaatar time, 2017-05-25)   Choijilsuren, Minister of Finance: Board of directors’ meeting of the IMF was held at 4 AM by Ulaanbaatar’s hour, and they voted to… Read more »

IMF Executive Board Approves Financial Arrangement for Mongolia


The Executive Board of the International Monetary Fund (IMF) today approved a three-year extended arrangement under Extended Fund Facility (EFF) for Mongolia in a total amount of SDR 314.5054 million (about US$434.3 million, or 435 percent of quota) to support the country’s economic reform program. Other financing partners, including the Asian Development Bank, the World… Read more »

Members demanded losses to Mongolbank to be reimbursed by its former president


At its today’s meeting, Economic standing committee of the Parliament reviewed 2012-2016 Mongolbank investigation report of T.Ayursaikhan, a member of parliament. The investigation report unveiled that Mongolbank accumulated over 3 trillion tugriks’ loss over the last four years. During this time Mongolbank made US$ 7 billion interventions which resulted in reduction of its foreign reserves…. Read more »

Investigation at Mongolbank exposed huge amount of losses


Parliament group of the Mongolian People’s Party discussed two issues. The first is investigation at Mongolbank and investigative committee’s report. The second is appointment of ambassadors to foreign countries. Member of Parliament Ts.Ayursaikhan led this investigation in Mongolbank.   Some members of the MPP’s parliament group suggested to classify Mongolbank investigation report as a state… Read more »

Agricultural Minister discusses increasing meat exports with China


Minister of Food, Agriculture and Light Industry P.Sergelen paid a working visit to China to develop more agricultural cooperation between the two nations. Minister P.Sergelen met with China’s Minister of Agriculture Han Changfu to discuss expediting the implementation of agreements that were reached during Prime Minister J.Erdenebat’s visit to China last week.   Sergelen emphasized… Read more »

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