Mongolia: 2009 Article IV Consultation, Third Review Under Stand-by Arrangement, and Request for Modification of Performance Criteria: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Mongolia.

February 24, 2010

Preview Citation

Format: Chicago

Mongolia: 2009 Article IV Consultation, Third Review Under Stand-by Arrangement, and Request for Modification of Performance Criteria: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Mongolia., (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

This 2009 Article IV Consultation highlights that the global economic crisis and collapse in copper prices in 2008 hit the Mongolian economy hard. The loose macropolicies and tightly managed exchange rate pursued during the preceding boom years had made the economy particularly vulnerable, and the situation deteriorated markedly in early 2009. The authorities are making progress toward restoring health to public finances. Executive Directors have supported the authorities’ policy priorities to restore health to public finances, rebuild international reserves while maintaining a flexible exchange rate, bolster confidence in the banking system, and protect the poor.

Subject: Banking, Commercial banks, Exchange rate flexibility, Financial institutions, Fiscal policy, Foreign exchange, Inflation, Prices, Public debt

Keywords: Bank restructuring plan, Bottom, Commercial banks, CR, Exchange rate flexibility, Financing needs, Global, Government, IMF staff projection, IMF Stand-By Arrangement, Inflation, ISCR, Mongolian authorities, Plan

Publication Details

Pages:

85
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/052
Stock No:

1MNGEA2010001
ISBN:

9781451827019
ISSN:

1934-7685

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