Home arrow News Archives arrow General News arrow Mongolia looks for $60 million IMF loan

 
Mongolia 's Latest News & Current Events, Directly from Ulaanbaatar

Login

Syndicate

Latest comments

Amnesty: Are the Mon...
Well, there are lots of how, why, if and when, and one can a...
More...
By gamp

Japan to provide $22...
It is very good for Mongolia that Japan strengthen its relat...
More...
By roydongen

Peabody Energy may s...
I meant the website when I said "Do you liver here or someth...
More...
By Hosoo

Mongolia looks for $60 million IMF loan PDF Print E-mail
Monday, 02 February 2009
ImageMongolia is seeking a loan of $60 to $70 million from the International Monetary Fund (IMF). 

"The (IMF) team is already in Mongolia, and they are now working with the Ministry of Finance and Mongolian National Bank to improve the budget indicators and maybe even to start concluding a program between the Mongolian government and the IMF," Mongolian President N.Enkhbayar said. 

President Enkhbayar made his comments on the sidelines of the annual meeting of the World Economic Forum which he is attending in Switzerland.  

Observers believe that Mongolia hopes an IMF loan would give other countries the confidence to lend it up to $3 billion in return for access to its mining sector.  

Mongolia has been negotiating with China, Russia, Japan and several Gulf states for $300 million to $3 billion in loans that would be linked to large mining projects 

The loans would be used to make up for a large budget deficit caused by falling commodity prices and a lowered world demand for natural resources.

  Be first to comment this article
RSS comments

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.3.0

 
< Prev   Next >

Google Comment

Join us with your Google account....

General Discussion

Classifieds

Latest Forum Posts

Statistics

Members: 1283
News: 2217
WebLinks: 17
Visitors: 12382236

Google Translation

Translate This Website

Mongolia Websites

Akira KAMIMURA, lecturer, faculty of Mongolian studies, Tokyo University of Foreign Studies launched an innovative website on old Mongolian manuscripts maps in cooperation with the state archive of Mongolia. It contains 16 precious maps which are stored at the state archive for academic use. The oldest map was estimated being made in 1803-1805.