Par­lia­ment re­views amend­ments to Law on Cen­tral Bank

The UB Post - - FRONT PAGE - By T.BAYARBAT

Par­lia­ment con­ducted the first re­view of amend­ments to the Law on Cen­tral Bank and pro­posed amend­ments to other at­tached laws on Thursday.

Dur­ing the meet­ing, Mem­ber of Par­lia­ment Ts.Davaa­suren pointed out that he be­lieves that the pol­icy fail­ure of Mon­gol Bank in re­cent years neg­a­tively im­pacted the pur­chas­ing power of the tu­grug and the for­mer ad­min­is­tra­tion of Mon­gol Bank is­sued many loans to pri­vate com­pa­nies, and asked the au­thors of the pro­posed amend­ments what changes were pro­posed to im­prove the re­spon­si­bil­i­ties of the cen­tral bank’s gov­er­nor and vice-gov­er­nor.

Head of the Par­lia­ment’s Stand­ing Com­mit­tee on Econ­omy D.Damba-Ochir replied, “A pro­posal to form mon­i­tor­ing and mon­e­tary coun­cils which will op­er­ate un­der Mon­gol Bank to re­view the gov­er­nor’s de­ci­sions was made in the amend­ments.”

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