Democratic Party critiques the Cabinet’s actions

On Thursday, Secretary of the Democratic Party (DP) O.Magnai held a press conference on the Government of Mongolia’s repayment of Development Bank’s bond debt.

He underlined that the Government of Mongolia has paid off the debt by creating new debt in issuing a government-backed bond with a high interest rate.

O.Magnai said that J.Erdenebat’s Cabinet has failed to present positive results from the work it has carried out over the past several months. He stated that the DP believes the Mongolian People’s Party (MPP) has misled the public by claiming that the MPP is dealing with debt the DP created.

He added that the DP resolved loans that the MPP government took out to provide people with state welfare, and that the DP financed infrastructure development and small business with the loans its government took out.