Mongolia’s extended fund facility review discussed

Oyundelger 2017-10-20 05:10

Economy

A team of Mongolian officials and journalists participated in the annual meetings of the World Bank and the International Monetary Fund (IMF) that was held in Washington DC.

Mongolia’s extended fund facility review discussed. A team of Mongolian officials and journalists participated in the annual meetings of the World Bank and the International Monetary Fund (IMF) that was held in Washington DC. The goal was to discuss the future of the extended fund facility and the prospects of Mongolia overcoming its debt obligations. Neil Saker, the IMF Resident Representative noted: “the implementation of the extended fund facility has helped stabilize Mongolian currency MNT and sent a message to investors that Mongolia’s policy would be stable”. The second and third stages of financing by IMF might be transferred to Mongolia in December, according to Koshy Mathai, the Deputy Division Chief in IMF’s Asia and Pacific Department, covering Korea and Mongolia. The Annual Meetings of the Boards of Governors of the World Bank Group and IMF bring together central bankers, ministers of finance and development, parliamentarians, and businessmen from all around the world.