Mongolia hopes to sign loan agreement with IMF soon
The International Monetary Fund mission is in Mongolia to finalise a relief program.
Mongolia hopes to sign a loan agreement with the IMF soon. The International Monetary Fund mission is in Mongolia to finalize a relief program. Mongolian Finance Minister B.Choijilsuren, said: "The Government's deal with the IMF delegation has entered its final stage. We expect to sign a relief program of around $500 million with the IMF team by February 15." A deal with the IMF would ease Mongolia’s financial concerns before the March deadline, when the Development Bank of Mongolia’s $580mn bond matures. The IMF package will be accompanied by support from the World Bank, Asian Development Bank and others, likely to be worth more than $1 billion.
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