Finance Minister to ensure implementation of IMF working group's recommendations

2022-05-05 17:26:48

Ulaanbaatar /MONTSAME/. A working group of the International Monetary Fund (IMF) worked in Mongolia between April 28 and May 4. In its framework, the working group has conducted a study to define the current socio-economic situation of Mongolia and the country’s mid-term economic outlook.

The study’s results were presented during a meeting held with Minister of Finance B.Javkhlan and executives of the Bank of Mongolia.

Head of the IMF working group Angana Banerji said, “Mongolia’s post-pandemic economic outlook is expected to be stable for the mid-term. Despite this result, it is necessary to take appropriate measures to restrict the growth of inflation, resolve the issue concerning exchange market pressure, and cut budget costs in order to overcome economic difficulties.”

The IMF representatives also advised limiting the provision of welfare to target groups during the meeting. 

In turn, Minister of Finance B.Javkhlan expressed that he will pay attention to ensuring the implementation of IMF’s recommendations based on the study carried out by the working group.