For years, it seemed that cashmere production simply wouldn’t be able to keep up with exploding demand. The expansion of luxury groups and the fine knits purveyors nearly caused the supply chain to buckle. But now, in a pandemic-stricken economy,

A working group from the International Monetary Fund (IMF) held an online meeting with Mongolian government officials on 11-13 May. During the discussion, Mongolia requested emergency financial assistance under the Rapid Financing Instrument (RFI) to meet urgent payments of the

According to the National Statistics Office, Mongolia’s exports fell by 45.3 percent in the first quarter of 2020 due to the coronavirus restrictions compared to same period last year. In the first quarter of 2020, Mongolia traded with 121 countries

University graduates are poised to enter one of the most difficult job markets in Mongolian history. Over 22 thousand students are expected to graduate with a university degree this academic year, according to the statistics. They will do so amid

Mongolia introduced a new payment system to public transportation in 2015.  Ulaanbaatar Smart Card, a subsidiary of the Korean Tmoney Company, suffered a 1.79 billion Korean Won (USD 1.4 million) loss in 2019, following a 1.82 billion Won loss the

The Asian Development Bank (ADB) has approved a USD 100 million loan to the government of Mongolia to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic.

ADB President Masatsugu Asakawa commended the Mongolian government on

A new combined solar photovoltaic (PV) and wind power plant is under construction in the Altai Soum of Gobi-Altai Province. The 450kW solar PV and 200kW wind hybrid plant is expected to begin operation later this year. The construction of

Moody’s Investors Service has changed the outlook on the Mongolian government’s issuer ratings to negative from stable.

The decision reflects rising external vulnerability risks related to a sharp fall in export revenue at a time when access to external financing is