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BCMongolia: Official says Mongolia has settled all its debts PDF Print E-mail
News - Government
Friday, 04 September 2009 12:48
Mr. D.Angar, Chairman of the Debt Management Group at the Ministry of Finance, hopes the differences over the status of the financial debt to Russia will be resolved by the end of the year. Explaining the history of the issue, he said the debt arose in 1973, when the Governments of the two countries established Mongolrostsvetmet and Mongolia’s share of the authorized capital was shown as a loan from Russia. In 2003, the Prime Ministers of the two countries signed a memorandum of understanding on the larger matter of what is called “the grand debt to Russia”, which included repayment of the Mongolrostsvetmet loan.

Mr. Angar said Mongolia has observed all the terms of the memorandum and was sure of its position when the Ministry of Finance wrote to its counterpart in Russia that the Mongolrostsvetmet debt issue had been completely settled. The Russian side has a different perception of the matter and this discrepancy now awaits resolution.
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reply written by Bolshig, October 14, 2009
Make the MPRP pay the debt
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reply written by Jimmie D, September 04, 2009
My fervent wish for Mongolia is that it uses its resources from its mining sector to boost its agricultural and livestock industries. You are surrounded by ruthless neighbors and your economy is not developed...this is a worrisome situation. However if you will be mindful of building a strong foundation in educating and developing a strong workforce, an efficient infrastructure, alliances with other powerful nations, you will cement your future as a player on the world stage. It is time to move away from relationships that keeps you in a subservient position. Do not waste the gift of having the means to bootstrap yourselves into a period of transformational growth.
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reply written by Honheree, September 04, 2009
Russian withholds US$300 million Agricultural loan as Mongolia “still has to repay the grand debt in full”.


Mr. Sukhbaatar says the Russian claim comes as a bolt from the blue. Is this how the Russian 'brothers-in-arms choose to care for Mongolian agriculure needs? It stinks of Putin's imperial desire to increase pressure on Mongolia to fall in line and become their vassal state again. They want something more ……………for the agriculture grant.

Next thing will happen is Russia will delay or stop the $3 billion development of railways they promised unless they get the Tavan Tolgoi coal deposit that is being auctioned at the moment in a "clear and transparent way"...uugh ughuhuh uhhh. Sorry, I was choking on the last three words.

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