IMF Staff Country Reports

Mongolia: 2023 Article IV Consultation-Press Release; and Staff Report

Publication Date:

October 4, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Mongolia’s economic conditions stabilized by 2023H2, helped by China’s reopening. The economy was in a challenging position in 2022 with widening external and internal imbalances due to multiple global shocks, policy excesses and governance lapses. However, greater exchange rate (ER) flexibility; the government’s strenuous efforts to facilitate exports; an influx of new private external financing, and some moderation of global shocks helped lift economic activity, moderate inflation, and stabilize the external position by end-2022. Effective public debt management by the government mitigated rollover risks. A supplementary budget for 2023 introduced large and permanent expansions in wages, benefits, and pensions.

Series:

Country Report No. 2023/348

Subject:

Commercial banks Environment Financial institutions Fiscal policy Inflation International organization Monetary policy Non-renewable resources Prices Public debt

Frequency:

regular