The UB Post



Cabinet Secretaria­t J.Munkhbat met with Bayangol District residents on March 17, to introduce the implementa­tion of the government’s action plan and the country’s overall economic situation.

He emphasized that after negotiatin­g with the Internatio­nal Monetary Fund (IMF), the Government of Mongolia and the IMF reached an agreement to implement a three-year extended fund facility program.

He noted that following the implementa­tion of the program, Mongolia will enhance its budget and financial environmen­t and strengthen fiscal discipline.

The Cabinet Secretaria­t stressed that after resolving Developmen­t Bank of Mongolia’s 580 million USD Euro bond debt without pressuring the government, the Government of Mongolia issued a bond of 100 million USD, the Khuraldai bond. Foreign investors offered over three billion USD for the bond, indicating that foreign investors trust investing in Mongolia again.

He added that the government is working to carry out budget cuts for heads of government, as well as bringing people to justice for abusing state power in determinin­g how government bond funds were spent.

In response to questions concerning Parliament’s vote to transfer Erdenet’s privately held stake to state ownership, the Cabinet Secretaria­t said that the parliament­ary resolution to claim the stake was not a move to seize private property, but an action taken to enforce the law.

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 ??  ?? Cabinet Secretaria­t J.Munkhbat speaks to Bayangol District residents
Cabinet Secretaria­t J.Munkhbat speaks to Bayangol District residents

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