The Mongolian economy is projected to contract by 2.4 percent in 2020 as weak external demand and COVID-19 containment measures hit the mining and services sectors especially hard, the World Bank said in the report titled “From Containment to Recovery:

Mongolia formally acceded to the Asia-Pacific Trade Agreement (APTA) on Tuesday, becoming the seventh member of the long-standing regional pact.  The APTA, previously known as the Bangkok Agreement, represents Mongolia’s first regional trade agreement with developing countries.

The agreement was founded

Earlier today (29 September), Finance Minister Ch.Khurelbaatar announced that a USD 600 million 5.5-year bond has been successfully raised from the international market in cooperation with the Central Bank of Mongolia. The ‘Nomad’ bond with 5.125 percent interest is similar

South Korean tobacco firm, KT&G, raised its Mongolian tobacco market share to 34.2 percent in the first half of this year to beat JTI and take the top spot for the first time.

Its ESSE, the most popular product in the

The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. In Mongolia, the Bank has been working closely with the government to address the

Canadian design firm, Stantec (STN) has been selected to provide advisory services on the water infrastructure improvements in Ulaanbaatar, the Mongolian capital.

The company was chosen by the Millennium Challenge Corporation (MCC), a US Government agency working to reduce global poverty.

MCC

Tourism is one of the first industries to be affected when countries close borders and ground all international flights. In early February, Mongolia was the first country to take drastic steps for preventing the spread of coronavirus by implementing advanced

Delegates from the Financial Action Task Force (FATF) will visit  Mongolia in October for evaluating the implementation of the specific tasks given to Ulaanbaatar for getting off the Grey list. The delegates have a tight schedule which has been complicated