Mongolia is opening its door to foreign banks for the first time to support its developing banking sector, the country’s finance minister said.
The move will ensure the stability of the banking sector, “increasing access to finance and ensuring sustainable growth

The Cabinet decided to submit the draft resolution of the Parliament on measures regarding the shares of Erdenes Tavantolgoi. The shareholding structure of Erdenes Tavantolgoi JSC should be adjusted to allocate 34% of the total shares to Mongolian citizens. This

Mongolia has achieved its goal of earning 1 billion U.S. dollars from tourism in 2023, reported the country’s Ministry of Environment and Tourism.

As of November, Mongolia welcomed more than 600,000 foreign tourists, and the revenues from the tourism sector exceeded

Mongolia’s foreign exchange (forex) reserves rose to USD 4.3 billion at the end of November, said the Ministry of Economy and Development.

The amount is adequate to cover imports for at least six months.

Due to the deepening of a current account

Mongolia’s central bank purchased a total of 16.1 tonnes of gold in the first 11 months of this year from legal entities and individuals. As of November, the Bank of Mongolia’s average gold purchase price had been MNT 219,514.35  (USD

Today (November 30), Mongolia announced debt regulation measures to refinance its USD 600 million Khuraldai bond.

Ulaanbaatar extended an offer to investors for a cash buyback of the 8.75 percent interest rate, with the Khuraldai bond set to mature in 2024.

AM Besthas assigned the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) to Mongolian National Reinsurance JSC. The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Mongolian Re’s balance

On November 28, Mongolia priced a debt management exercise, funding a tender and the redemption of the USD 392.6 million bonds maturity in March 2024. The objectives of the transaction were to address near-term maturities,  extend the duration of the nation’s debt stock;  reduce cost;  further