N.Bayartsaikhan, President of Central bank of Mongolia or Mongolbank arrived in Washington DC, earlier today (30^th of September).

In Washington, the annual autumn meeting of the International Monetary Fund (IMF) and the World Bank Group will be held from 7^th to 9^th of October. During the meeting, N.Bayartsaikhan will meet officials of these two organisations as well as make an official request for the IMF ‘standby’ programme. The IMF made $229 million available in a standby credit arrangement in 2009. The IMF offers standby programs to quickly aid countries with short-term loans not exceeding 36 months. Mongolia is seeking the standby programme as only one of several options for IMF support to help its faltering economy.