Mongolian Bond Prices Jump Following $440 Million IMF Bailout
- The nation’s 2022 bond price rises most since 16 August
- GDP growth expected to reach 8 percent by 2019, says IMF
The Ulaanbaatar skyline.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
The price of Mongolia’s benchmark 10-year bond rose after the announcement on Sunday that the International Monetary Fund will lead a bailout the nation.
The yield declined and the price of the bonds due in 2022 rose more than 4 cents by 1:50 p.m in Hong Kong, after the news of a $440 IMF million loan package as part of a $5.5 billion bailout. The tugrik was little changed at 2,482 per dollar compared to 2,483 on Friday.