50947
Mongolia Seeking IMF Help
Mongolia Seeking IMF Help

Mongolia Seeking IMF Help

Mongolia Seeking IMF Help

Mongolia has sought financial assistance from the International Monetary Fund, as it grapples with balance of payments woes and looks to stabilize its economy, the IMF said. Mongolia’s government has been plunged into turmoil after years of collapsing foreign investment, unsustainable fiscal expansion and a decline in demand for commodities like coal and copper. Mongolia raised its benchmark interest rates by 450 basis points to a record 15% in August in an attempt to stabilize a currency that had been in free-fall. Discussions about financial assistance from the IMF will begin next week when Mongolian officials visit Washington DC to attend the annual meetings of the IMF.

 

Short URL : https://goo.gl/eUOkG5
  1. https://goo.gl/EEo8PB
  • https://goo.gl/mhc7Qc
  • https://goo.gl/Cvp6pC
  • https://goo.gl/vgHLxc
  • https://goo.gl/091nS4

You can also read ...

WTO head Roberto Azevedo renews his concerns over worrying political headwinds, especially protectionism.
The World Trade Organization on Thursday upped its forecast...
The Reserve Bank of New Zealand
A leading global FX analyst expects New Zealand dollar to...
Asian central banks are not expected to mirror the Fed rate cycle as closely as in the past. The picture shows Indonesia Central Bank.
As the Federal Reserve signals an end to its decade of...
IMF Says Macron Reforms Crucial for French Growth
The government of French President Emmanuel Macron needs to...
Canada Doing Well
With strong economic growth in the first half of the year, the...
ECB: Immigration Boosts Euroland Labor Force
Immigrants have made a large contribution to the working-age...
Russia Overcomes Recession
The national economy is growing and creating a base for future...
Sub-Saharan Africa is still the world’s least industrialized region.
While much of Africa has achieved impressive economic growth,...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus