Roundup: Despite no cases, Mongolians prep for battle against COVID-19 www.xinhuanet.com

Mongolian Foreign Minister Damdin Tsogtbaatar told Xinhua in a recent interview that China has taken "highly organized measures" to contain the COVID-19 outbreak.

ULAN BATOR, March 3 (Xinhua) -- Mongolians have donated cash and supplies to support their government's efforts to prevent the spread of the coronavirus despite no cases of the disease having emerged in the country.

Public figures in Mongolia including singers, bands and wrestlers have donated money and much-needed prevention supplies to the country's Health Ministry, hospitals and other organizations.

Former sumo grand champion Dolgorsuren Dagvadorj recently provided 400 pieces of medical protective gear to the ministry.

A Mongolian herder from the southwestern province of Bayankhongor on Monday donated 10 sheep to the National Center for Communicable Disease of Mongolia to support the organization's anti-virus efforts.

"Every citizen's participation is important to prevent the spread of COVID-19. I am glad that the Mongolian people are not only consciously implementing, but also supporting the government's anti-coronavirus efforts," Sambuu Lambaa, former Mongolian health minister, told local media.

Meanwhile, since the COVID-19 outbreak in China, Mongolian leaders, members of the public, students and even children have been expressing solidarity with China in its battle against the novel coronavirus epidemic.

The Mongolian government has donated 200,000 U.S. dollars toward China's epidemic control efforts, and the country's President Khaltmaa Battulga, as the first foreign head of state to visit China since the COVID-19 outbreak, has offered a donation of 30,000 sheep to China during his recent one-day visit there.

Mongolian Foreign Minister Damdin Tsogtbaatar told Xinhua in a recent interview that China has taken "highly organized measures" to contain the COVID-19 outbreak.

To help China contain the coronavirus, other countries need to be equally responsible and take preventive measures, he said, adding that Mongolia has been following the recommendations of the World Health Organization to prevent an epidemic.

As more Mongolians wish to donate money and prevention supplies to China, the Mongolian government last month launched a nationwide campaign called "Emotional Support to an Eternal Neighbor."

During the campaign's launch, Mongolian Environment and Tourism Minister Namsrai Tserenbat highlighted China's great contribution to the social and economic development of Mongolia, underlining the necessity of supporting China in fighting COVID-19.

United Nations Resident Coordinator in Mongolia Tapan Mishra recently hailed the efforts of the Mongolian government to prevent the spread of the novel coronavirus.

"The Mongolian government has taken optimal measures to prevent the spread of the disease, setting a good example to the world," Tapan said at a recent meeting with Mongolian Deputy Prime Minister Ulziisaikhan Enkhtuvshin.

Mongolia has banned all public gatherings and provided its citizens with information on how to contain the disease's spread should an outbreak occur in the country. ■

Ch.Ulaan: Food wheat and all types of rice to be exempted from tax www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Food, Agriculture and Light Industry Ch.Ulaan reports that at its regular meeting held today, the Cabinet decided to submit a bill to the Parliament on exemption of wheat, wheat seed, all types of rice, sugar and vegetable oil from customs and value added taxes.

Mongolia imported 541.5 thousand tons of gasoline in 2019 www.montsame.mn

Ulaanbaatar /MONTSAME/. Mongolia imported 541.5 tons of gasoline in 2019, according to the statistics of Mongolian Customs General Authority.

Gazprom Management Meets Mongolia’s Ambassador www.steelguru.com

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Davaa Dulamsuren, Ambassador Extraordinary and Plenipotentiary of Mongolia to the Russian Federation, took place today in Moscow. The parties discussed issues related to the potential implementation of the project for pipeline gas supplies from Russia to China across Mongolia. Among the topics discussed was the establishment of a joint working group to elaborate the project.
Background

Will Speaker G.Zandanshatar go to the US? www.news.mn

The Mongolian president has asked parliament to hold a snap session in connection with the coronavirus emergency. However, Parliamentary Speaker G.Zandanshatar, has been invited to visit the USA on 8-10 March. According to sources, the speaker’s visit is expected to be postponed due to the covid-19 outbreak in USA where six people have died.

BoM may cut interest rate www.zgm.mn

The Bank of Mongolia (BoM)’s Monetary Policy Committee is scheduled to meet earlier this month to discuss whether to cut or leave the policy rate untouched at 11 percent as it did consecutively in the last two years. The inflation rate, which plays an important role in the monetary decision, stood at 5.6 percent in Mongolia, nearing around BoM’s target level. Central banks around the world have been introducing their intention to implement loose monetary policy since the lethal virus COVID-19 outbreak spread. A loose monetary policy occurs to decrease unemployment and spur economic growth when it slows. In 2016, the central bank of Mongolia increased the policy rate to 15 percent, in an effort of halting the devaluation of tugrik at the time. It has been decreasing the rate since then to the current level. “Encouraging the economy through fiscal policy to at least decrease budget deficit is more efficient than focusing on the monetary policy. There is no guarantee that the cut policy rate will benefit entities. On the contrary, it may raise consumer loans, triggering the debt amount to increase further,” said Economist Dulguun Batbold. The 2020 Budget deficit of Mongolia equals 5 percent of the GDP or MNT two trillion. According to the economist, decreasing the policy interest rate rises the loan sources. Therefore, the amount of money the central bank spent in securities may be reduced and the money gets into circulation to stimulate the business environment.

More areas likely to suffer dzud disaster www.montsame.mn

Ulaanbaatar/MONTSAME/. Arkhangai, Bulgan, Orkhon, Zavkhan, Khuvsgul and Uvs aimags that are risky to dzud disaster will be distributed 2303 tons of hay free of charge. Besides, 2025 tons of fodder will be sold at 50 percent reduced price. Moreover, the Government decided to provide seven vehicles to Emergency Departments of Zavkhan, Arkhangai, Uvurkhangai and Uvs aimags and three soums of Orkhon, Zavkhan and Khuvsgul aimags.

70% of miners say new business models needed www.mining.com

The mining industry is moving to embrace stakeholder capitalism, according to KPMG International’s latest global mining risk report.

Huge red flag for oil: Global economic growth could be cut in half www.rtc.om

A prolonged and wide-ranging coronavirus outbreak could cut global economic growth to just 1.5 percent this year and have serious consequences for oil demand.
A significant drop in global economic growth is very bad news for oil demand, which has already been depressed by the outbreak.

Coronavirus: World Bank pledges $12bn in emergency aid www.bbc.com

The World Bank has committed $12bn (£9.4bn) in aid for developing countries grappling with the spread of the coronavirus.

The emergency package includes low-cost loans, grants and technical assistance.

The action comes as leaders around the world pledge to shield their countries from the economic impact of the outbreak.

It follows warnings that slowdown from the outbreak could tip countries into recession.

The aid is intended to help countries improve their public health response to the crisis, as well as work with the private sector to reduce the economic impact.

"What we're trying to do is limit the transmission of the disease," World Bank Group President David Malpass told the BBC.

The organisation said it would prioritise the poorest and most at-risk countries in distributing the aid to counter the effects of the virus, which has spread to more than 70 countries around the world.

Half of the package comes from the bank's International Finance Corporation, which works with the private sector. About $4bn of the $12bn is being shifted from previously available funds.

Authorities have confirmed more than 92,000 cases of the virus worldwide of which more than 80,000 are in China. More than 3,000 people have died globally, the vast majority in China.

New infections and deaths have been declining in recent weeks in China due to draconian quarantine measures. The country on Wednesday reported 38 more deaths but a fall in fresh cases for a third consecutive day.

The worst-hit country outside China remains South Korea which on Wednesday reported 516 new confirmed infections, bringing the total to 5,328. The country's official death toll stands at 32.

"The point is to move fast; speed is needed to save lives," Mr Malpass said in conference with reporters. "There are scenarios where much more resources may be required. We'll adapt our approach and resources as needed."

The Dow Jones shed nearly 800 points on Tuesday, paring Monday's big gains. This was despite a rare emergency move by the US Federal Reserve to cut interest rates by 0.5% amid fears over the impact of the coronavirus.

It was the biggest cut since the global financial crisis more than a decade ago.

In other developments:

Finance ministers from the G7 countries said they were "ready to take action", including fiscal measures to aid the response to the virus and support the global economy
Twitter told its employees to work from home
Google cancelled its annual developer conference

Iran has temporarily released more than 54,000 prisoners in an effort to combat the spread of the virus in crowded jails. The country has reported 77 deaths in less than two weeks.

On Tuesday, the health ministry said the number of confirmed cases had risen by more than 50% for the second day in a row. It now stands at 2,336, although the real figure is believed to be far higher.

Meanwhile, Italy has reported a 50% jump in deaths in the past 24 hours, with the total standing at 79. Most of the deaths are in Lombardy.

Nine deaths have now been confirmed in the US. All of those killed lived in Washington state.

And in Spain, an autopsy on a 69-year-old man who died on 13 February has revealed he was infected with SARS-CoV-2, local media report. It is the country's first fatality from the virus.

How deadly is Covid-19?
The World Health Organization (WHO) says the virus appears to particularly affect those over 60, and people already ill.

In the first large analysis of more than 44,000 cases from China, the death rate was 10 times higher in the very elderly compared to the middle-aged.

The WHO also warned that prices of protective equipment, such as surgical masks and gloves, are soaring due to a global shortage, and asked companies and governments to increase production by 40%.

Health experts believe Covid-19 does not transmit as efficiently as seasonal flu and is not generally passed on by people who have no symptoms.