The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
To help economic adjustment in the midst of the global economic crisis, an 18-month Stand-By Arrangement (SBA) was supported by IMF resources. The cause of Mongolia's crisis in 2008-09 and its resolution and design and outcomes of the program are also discussed. The trigger for Mongolia's crisis was the collapse in the prices of its commodity exports-copper in particular. The program was concluded, having averted a full-blown crisis, and laid the foundation for further strengthening of the macroeconomic and financial policy framework.