The volume of Mongolia’s foreign debt has reached 220 percent of the country’s GDP, reported Mr. Juan Pablo Bohoslavsky, UN Independent Expert on the effects of foreign debt, who has been on a mission to Ulaanbaatar. During his visit, which lasted from 2-11 September, Mr Bohoslavsky has been analyzing Mongolia’s foreign debts, economic policy, infrastructure, loans for mining projects and foreign direct investment.

Mongolian Government debts reached to 58.9 percent of GDP. According to statistics, one in three people in Mongolia lives in poverty. In some regions, nearly half of the population lives below the poverty line.