Mongolian parliament removed problematic Resolution 29 from the State Budget Amendment at the plenary session on 4^th of April. 65.5 per cent or 36 MPs out of the attended 55 backed to cancel the clause.

The 29^th resolution states that major companies, such as Oyu Tolgoi LLC, must transfer all their payments and transactions through banks operating only in Mongolia. Because of the resolution, the IMF office in Mongolia explained that the aid programme has been delayed.

During the discussion, Ch.Kurelbaatar, director of Standing Committee on Budget said ‘We discussed issue about Resolution 29 from the State Budget Amendment with officials of Rio Tinto as well as Japan, Australia and England. Mongolia is going to receive financial aid from IMF for sixth time.’

Rio Tinto has requested that the IMF examines whether the resolution violates the law on investment and is likely to harm investors.