The Executive Board of the International Monetary Fund (IMF) has approved Mongolia’s request for emergency financial assistance under the Rapid Financing Instrument (RFI) equivalent to SDR 72.3 million (about US$99 million, or 100 percent of quota) to meet urgent budgetary

The Asian Development Bank (ADB) on Wednesday (3 June) said it has raised 21 billion Mongolian Tugrik (MNT) – about USD 7.5 million –  in a groundbreaking issue of the first offshore MNT-linked Nomad Bonds. The Manila-based multilateral lender said

Mongolia, a leading supplier for global cashmere, has seen demand for its luxury fibers plummet during the coronavirus pandemic. Sales fell near 70 percent as Chinese traders and Western shoppers have been isolated and businesses and factories closed.

Khatant International, a

Mongolia has exported a total of 5.2 million tons of coal so far this year, virtually all to China, according to data released by the Mongolian Customs General Administration on Tuesday 2 June.

The figure represents a decrease of 2.6 times

The Central Bank of Mongolia or Mongol Bank purchased 1.7 tonnes of precious metals from individuals and enterprises in May. The Bank’s purchase has reached 8.5 tonnes of precious metals – 6.8 tonnes being  gold – since 1 January. This

A Business Incubator Centre under the Asian Development Bank’s Ger Area Development Investment Programme has been inaugurated at the Bayankhoshuu Subcentre in the Mongolian capital Ulaanbaatar.

On May 28, ADB Country Director Pavit Ramachandran launched the business incubator. The ceremony was

Mongolia’s commodity-dependent economy is facing a sharp slowdown in GDP and export growth, deterioration in the public finances and an erosion in external buffers this year due to the coronavirus shock. Nevertheless, the affirmation of the rating with a Stable

The European Union is supportig Mongolia’s efforts in boosting employment and improving transparency in public finances with a grant of 50.8 million euros (MNT 155.7 billion). This is the first budget support programme in Mongolia, also aiming to address the