Mongolia Calls for Economic ‘Crisis’ Plan; Bonds Tumble

Updated on
  • Finance Minister vows to keep Mongolia from defaulting on debt
  • Yield on 2022 securities climbed the most since notes sold

Mongolia Calls for 'Crisis' Plan

Mongolia is planning to set up a task force to deal with an “economic crisis’’ that’s led to slowing growth, a declining currency and a soaring budget deficit, the nation’s finance minister said. Government bonds due in 2022 tumbled the most on record and the currency weakened.

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