Mongolia`s credit rating increases
According to the Fitch Agency, Mongolia’s macroeconomic and banking sector risks have been diminished.
According to the Fitch Agency, Mongolia’s macroeconomic and banking sector risks have been diminished. Under IMF’s Extended Fund Facility /EFF/ program, an asset quality review was carried out in the banking sector. This process will likely scale down uncertainties in banking system ratios, according to Fitch analysts. EFF was issued to Mongolia last year to improve the economic performance. The short-term economic outlook for Mongolia is better, led by commodity price increases and tight expenditure controls, which will support financial stability. The Fitch forecasts that the Mongolian economy will grow by 4.5 percent in 2018, and affirms Mongolia’s credit rating as positive at “B-“.
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