The International Monetary Fund (IMF) said on Thursday it approved a three-year financial
arrangement of about $434.3 million to support Mongolia’s economic reform programme.
The IMF said in a statement that Mongolia was hit hard by the sharp decline of commodity prices and the slowdown in key export markets, and the government is therefore implementing a programme to pave the way to economic recovery.
Advertisement
It said the total financing package for Mongolia, with other financial partners such as the Asian Development Bank, amounts to about $5.5 billion.
Related posts:
IMF approves disbursement of $15.4 mln to Malawi
Pope Francis visits Mongolia amid strained relations with China, Russia
Firefighters killed in blast following truck, car collision in Mongolia
Acacia says Tanzania ore export ban costing over $1 mln in daily revenue
UN okays 22 mln USD loan to prevent famine in Somalia
South Sudan says secures $106 mln from donors, will buy food
Nigeria central bank injects $293 mln into currency market
OPEC’s Barkindo says oil demand to hit 100 mln bpd ‘much sooner’ than projected
