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Mongolia: 2015 Article IV Consultation—Staff Report; Press Release; and Statement by the Executive Director for Mongolia
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2015: Issue 109
Language:
English
Publication Date:
30 Apr 2015
DOI:
https://doi.org/10.5089/9781484346341.002
ISBN:
9781484346341
ISSN:
1934-7685
Pages:
89
Keywords:
ISCR; CR; deficit; DBM spending; GDP; authority; DBM governance; spending of the Development Bank of Mongolia; CAR calculation; debt data; Budget planning and preparation; Commercial banks; External sector statistics; Global; Central Asia; Asia and Pacific
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This 2015 Article IV Consultation highlights that Mongolia’s medium- to long-term prospects are promising given its large natural resources. In the near term, however, the country continues to face balance-of-payments (BOP) pressures on account of low foreign direct investment and weak commodity prices, as well as expansionary macro policies. Imports have now started to taper off and, with the first phase of the Oyu Tolgoi copper and gold mine now in operation, exports have picked up. The trade balance has thus improved, but the overall BOP remains weak. The executive directors have supported ongoing efforts to foster high, inclusive growth by improving the investment climate, enhancing competitiveness, and promoting economic diversification.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2015: Issue 109