Mongolian Officials Back IMF Program Amid Widening Budget Gap
- IMF help would ease financial crisis ahead of debt repayments
- Economic Stablization Plan could be passed end of November
This article is for subscribers only.
With the currency hitting record lows and the budget deficit worsening, senior Mongolian officials said they support an assistance program from the International Monetary Fund.
Foreign Minister Munkh-Orgil Tsend said he was confident an agreement with the IMF would be in place by February. Khayankhyarvaa Damdin, chairman of the ruling party’s parliamentary caucus, said at press conference on Monday that “Mongolia should enter the IMF program. In fact, we are losing time on this process.’’