Mongolian government and International Monetary Fund have agreed on terms for bailout package

Oyundelger 2017-02-21 06:02

Economy

Part of the agreement includes a 3-year extended fund facility of SDR314 million ($440 million).

Mongolian government and International Monetary Fund have agreed on terms for $5 billion bailout package to help get Mongolia’s economy back on track. Part of the agreement includes a 3-year extended fund facility of SDR314 million ($440 million). Other international partners, such as the Asian Development Bank and World Bank, as well as bilateral partners like Japan and Korea, are expected to provide budget and project support of up to $3 billion.