1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Researchers present artifacts proving ancient Mongolians having lived in India www.montsame.mn

Ulaanbaatar /MONTSAME/. Co-organized by the Embassy of India in Mongolia, and the Indian Studies Center of Mongolia, a scientific conference took place under the theme, ‘Culture and traditions of the Indo-Mongoloids of Northern India and the Himalayas, and their ancient relations and similarities with Mongolians’ on November 20.

In his presentation, Dr. D.Nyamdavaa presented proof that Mongolians used to border and cooperate with those that lived in 8 states near the Himalayas and the northeastern region of India.

During his 15 years of assignment in India, he traveled through all of the states of India to gather information and do research. Noting that the people of India used to call their bordering Hunnu people as ‘Huna’, the researcher highlighted that there are various findings of cave paintings and stone age artifacts as well as the traditions, certain cultural artifacts, music, and clothes of the people that live in the region even today being similar to those of Mongolians.

As for researcher at the National Center for Public Health N.Suvd, she noted how babies with blue spots are born in the northern region of India as they are related to the Mongol ethnic group. The researchers also mentioned that the estimated number of people throughout the world that are related to Mongolians by blood is between 50 to 60 million. For instance, there are 12 million in Nepal, 30 million in India, 864 thousand in Russia, 5.8 million in China, 4 million in Afghanistan, 2 million in Pakistan, 2 million in Iran, and about 10 million in the countries of the central Asian region.

They also underlined unique facts about the relations between the two countries that explain its history from a new angle, such as the relations being 3,700-10,000 years old, and how ‘Hunas’ invaded India through the region of central Asia from 465 AD, establishing their empire, as well as when the Mughal Empire was established by Emperor Babur, who proclaimed having descended from Chinggis Khaan in the year of 1526, that continued to exist until colonization in 1871, and that his proclamation is proven by his descendants being traced back to a tribe named Barlas of Mongolia.

During the conference, a photography exhibition was also presented, depicting ancient architecture, coins and currency, dictionaries written in Persian, Arabian, Indian and Mongolian, sutras, two-humped camels, yaks, and goats being herded, and the processing methods for milk and dairy, alongside the mutual official visits of the presidents of Mongolia and India.

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Intergovernmental agreement on Biocombinat renovation project amended www.montsame.mn

Ulaanbaatar /MONTSAME/ On November 21, Minister of Finance Ch.Khurelbaatar and Ambassador Extraordinary and Plenipotentiary of Hungary to Mongolia Mihály Gálosfai signed the amended agreement on General Programme of Financial Cooperation established between the governments of Mongolia and Hungary on January 25, 2016 in order to increase the budgeted cost of the Biocombinat state-owned factory renovation project.

Under the aforementioned project, a viral vaccine production facility and factory compliant with international Good Manufacturing Practice (GMP) Requirements will be newly built and fully equipped; infrastructure/utility systems of the factory will be expanded; and the staff to work at the new factory will have training.

The project will open up an opportunity to domestically produce the much needed vaccines and medicines against foot-and-mouth disease and rinderpest and this will improve livestock health, dramatically decline food insecurities caused by infections, increase export of animal raw materials and products, and enhance herders’ livelihoods.

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10 Mongolian companies to export their products to the U.S. market www.montsame.mn

Ulaanbaatar /MONTSAME/ At the initiatives of 'Mongolian Brand Association' NGO, the Mongolian National Chamber of Commerce and Industry (MNCCI), Mongolian Marketing Association and the U.S. Embassy in Mongolia organized ‘Let’s Export to America’ event on November 20 in partnership with the Asian American Chamber of Commerce (AACC).

Representatives and experts of the AACC attended the event, giving counsel to Mongolian entities on exporting their products to the U.S. market and conducted a training on requirements and legal environment to draw investment. Delegates of 30 Mongolian companies took part in the event and it gave opportunities to up to 10 potential companies to export their goods to the United States.

Secretary General of the MNCCI B.Saruul highlighted during the event that the chamber will pay attention and work towards broadening and developing bilateral trade and economic cooperation, conducting joint business meetings and exhibitions in collaboration with the U.S. trade promotion organizations, connecting business people of the two countries and rendering support on exporting products of Mongolia to the U.S. market.

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China’s coal decision endangers Mongolian truck drivers’ lives www.news.mn

Once again, a tragedy is waiting to happen as truck drivers have to sit in their cabs for days on end in sub-zero conditions on the road to China. The coal trucks have been struck at the Tsagaan Khad Border Crossing. The reason: Chinese coal demand has already been met. According to representatives of the coal transporting companies, the truck drivers have been waiting on the road for 10-15 days without food and drink since leaving the Tavan Tolgoi mining complex. There is now a 10km long queue of trucks on the bleak Gobi road to the border.

Nearly 14,000 trucks transport coal from three coal sites at the Tavan Tolgoi mine to Gashuun Sukhait Border Crossing. Currently, 32 million tonnes of coal is transported to China.

As the long queue of coal trucks continues to rise and temperatures continue to fall, China is, through its snap decisions, again putting Mongolian lives at risk.

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Russia’s Nord Stream 2 gas pipeline to Europe to start operating in mid-2020 www.rt.com

The Nord Stream 2 project designed to deliver Russian natural gas to Germany and other European customers will start working in the middle of next year, Deputy Prime Minister Dmitry Kozak said on Thursday.
He gave no other details about the exact date of the pipeline’s launch. Earlier, Russian Energy Minister Alexander Novak told reporters that gas deliveries via the undersea pipeline could start in the coming months.The offshore and land sections of the pipeline were connected on the German side last year. The project only needed approval from Danish authorities. Other countries on the route of the pipeline – Russia, Finland, Sweden and Germany – have long-since approved it.

In October, Copenhagen finally gave the green light for the pipeline to pass through its territorial waters.

Nord Stream 2, which runs from the Russian Baltic coast to Germany, will deliver 55 billion cubic meters of gas per year to European customers. The Russia-led project has been repeatedly criticized by the US as Washington wants to boost sales of American liquefied natural gas (LNG) to Europe.

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Made in Mongolia – North America 2020 www.news.mn

‘Made in Mongolia – North America 2020’, a business forum and exhibition will be held in New York and Toronto in April, 2020. The event is organized by Export and International Trade Center (EITC) NGO.

EITC has been organizing the annual Made in Mongolia event in the USA, Canada and Japan and the Export Mongolia Business Forum in Mongolia since 2015.

EITC officially established its Logistics Centre in Chicago in 2015. Later, in 2018, it opened the Made in Mongolia Trade Centre at the ‘Oatbrook Centre’, also in the ‘Windy City’, with the purpose of increasing foreign trade on value-added products.

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Against Whom the US Wants to ‘Strengthen Cooperation’ with Mongolia? www.journal-neo.org

Mongolia’s role in international relations and the global economy is largely determined by its location right in the heart of Asia, its impressive reserves of minerals (copper, coal, molybdenum, tin, tungsten, gold), and its common border with two Eurasian giants – Russia and China. Also important is the fact that Mongolia is a natural transport link in land routes between Europe and the Asia-Pacific, which serve as alternatives to the sea route through the Suez Canal.

Therefore, it isn’t surprising that Washington has developed an increased interest in advancing cooperation with Mongolia in recent years. It should be noted that, ironically, the United States was the last major state of the Western world to establish diplomatic relations with Mongolia. The US only got around to it in 1987 and this was largely due not to the ‘diversification of the USA’s diplomatic ties’, but happened because of Washington’s intention to secure a firm footing in one of the strategically advantageous points of Eurasia. Here, China’s New Silk Road and Mongolia’s Steppe Route project converge, the latter being aimed at increasing Mongolia’s importance as a transit state at the junction of China and Russia.

Ever since the successful democratic revolution in 1990 took place in Mongolia, the United States became one of the primary ‘patrons’ of democratic reforms in the country. Political, economic, and cultural relations between the two states are expanding exponentially.

Against the backdrop of the active self-assertion of the US in the political life of Mongolia and its desire to play a key role in the country, the attempt to carry out a ‘color revolution’ in Summer 2008 following Washington’s distinctive patterns stands out. Essentially, Washington is trying to tear Mongolia away from its traditional partners, Russia and China.

But the main thing the US is particularly insistent upon is strengthening its military cooperation with Mongolia. Through this, Washington seeks not only to forge closer ties with Ulaanbaatar, but also to exert influence on the political course of Ulaanbaatar through increased leverage in the country’s military.

As USA Today reported back in October 2005, the Pentagon has far-reaching plans regarding Mongolia. Donald Rumsfeld, then-US Secretary of Defense, even said at a press conference in Ulaanbaatar: “The United States is exceptionally interested in building military bases in Mongolia, which has long been a vassal of the USSR.”

And this is not just an empty phrase uttered by the American Secretary of Defense, but an obvious strategic calculation: the US counts on its medium-range cruise missiles to be able to reach both the PRC and the Russian Federation if situated in Mongolian steppes. From this point of view, the deployment of American INF forces here is the most strategically advantageous move for Washington, as well as the fact that the population of Mongolia isn’t large, mainly nomadic and not used to defending their civil rights. Thus, they will not protest against the deployment of American missiles and perhaps they won’t even notice it. The US also presumes that Ulaanbaatar has taken an openly pro-Western course after the collapse of the Soviet Union.

However, these plans of Washington have failed to pay off so far. In recent years, the Mongolian government has repeatedly rejected the USA’s proposals to create a network of military bases on its territory.

Nevertheless, the United States continues to attach strategic importance to military cooperation with Mongolia, positioning itself as Mongolia’s ‘third neighbor’, clearly demonstrating the desire to assume a leading role in the military cooperation with the Asian state.

Mongolia, if only nominally, participated in US military operations in Iraq and Afghanistan. Since 2003, Mongolian military specialists have been trained in the United States and starting in 2006, major Mongolian-American field exercises titled Khaan Quest have been held, while the U.S. Department of Defense and the Department of State are funding the Ulaanbaatar Regional Peacekeeping Training Center, which was created with American assistance. According to Voice of America, some 230 Mongol soldiers are still based in Afghanistan. The United States also uses Mongolian territory, which is known for its harsh climate, to conduct the military exercises of its special forces in winter conditions for their subsequent combat use ‘in a country with a harsh climate’ (said country is quite obvious, isn’t it?).

Meanwhile, a noticeable intensification of bilateral contacts has taken place recently upon Washington’s initiative. In June, John Bolton, US Presidential Adviser on National Security, visited Mongolia. Then in late July, Mongolian President Khaltmaagiin Battulga paid a visit to Washington and met with Donald Trump. Following that, the State Department issued the Declaration on the Strategic Partnership between the United States of America and Mongolia. The United States thus became Mongolia’s fifth strategic partner, along with Russia, China, Japan and India.

In this context, the official visit of the Pentagon Chief Mark Esper to Ulaanbaatar in early August attracted a lot of attention: Mongolia ended up in the list of destinations on Esper’s first overseas tour. This confirms the US’ increasing interest in making Mongolia a potential strategic bridgehead, considering its convenient location between Russia and China, the United States’ two main geopolitical opponents. According to The Diplomat, in 2019, the Pentagon emphasized the importance of Mongolia for the USA’s strategic interests in its budget for foreign operations. Washington bluntly stated its intention to make sure that ‘the United States remains a more preferable partner for the country than Russia and China.’ Citing a senior US official, the publication adds that America wishes to expand military operations and intelligence cooperation with Ulaanbaatar.

During meetings with the political leadership of Mongolia, Mark Esper expressed a desire ‘to raise the level of bilateral cooperation’ in order to entice Mongolia with the vision for a free and open Indo-Pacific, which Washington intends to actively use in countering China.

As the results of Esper’s visit to Mongolia showed, Washington intends to secure this country as a significant partner in the defense sphere using a complex strategy. Firstly, the US intents to improve the current formats of interaction, including the participation of Mongolian military in the US-led Operation Resolute Support in Afghanistan and the multilateral military exercises Khaan Quest. The US also wishes to ensure the country’s continued participation in global UN peacekeeping operations (about 10% of Mongolia’s armed forces participate). Secondly, the US intends to continue ‘niche’ supplies of military equipment (communications equipment and ammunition worth $2 million per year). The next step is ‘monitoring’ Mongolian military-technological cooperation with Russia and China by sending Pentagon delegations to assess the ‘weapons needs of Mongolia.’

Although these are characterized as important but not ‘breakthrough’ areas in defense cooperation, their focus is on expanding the military presence of the US, as well as the deployment of Pentagon objects, which seemed impassable before from the point of view of Mongolian legislation. The plan is to create Cooperative Security Locations (CSL) with logistical support and a certain number of US military personnel. This would allow the US to establish a presence on Mongolian territory and, if necessary, instantly deploy battle and logistics support bridgeheads of the army in any region. By advancing specifically the option of creating American CSLs, Washington is quite clearly banking on the fact that, unlike their ‘classical’ military bases, such a designation won’t lead to misreading. The term allows the US to maneuver and call them anything but ‘US military bases.’

But, despite all of these efforts on the US’ part, Russia and China will remain the Mongolia’s main allies, primarily because of the foreign policy priorities of the current Mongolian leadership.

Vladimir Odintsov, expert politologist, exclusively for the online magazine ‘New Eastern Outlook’.

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Mongolia to cooperate with GGGI in green building www.montsame.mn

Ulaanbaatar /MONTSAME/. On November 20, Minister of Foreign Affairs D.Tsogtbaatar received Director-General of the Global Green Growth Institute (GGGI) Frank Rijsberman.

The meeting touched on issues to broaden framework of the cooperation program between Mongolian and the GGGI and some projects being implemented by the GGGI in scope of its strategic plan for 2015-2020. The sides also exchanged views on promoting green-eco and water and energy efficient lifestyle to the public and ways to protect themselves from air pollution and raising public awareness on climate change and its impacts, as well as on supporting green economy.

At the meeting, Mr. Frank Rijsberman conveyed greetings from the GGGI's Assembly President Mr. Ban Ki-moon to Foreign Minister D.Tsogtbaatar. Furthermore, the sides agreed to cooperate in areas of reducing heat loss from buildings in the central area of Ulaanbaatar city and making the buildings eco-friendly.

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Mongolia’s ‘Eternal Ice’ Is Melting, Revealing Ancient Artifacts www.vice.com

Precious artifacts have been tumbling out of melting ice patches and glaciers in Mongolia: an arrow, painted red at the tip, that may date back thousands of years to the Bronze Age; a mass animal graveyard containing the remains of dozens of bighorn sheep; remnants of a beautiful rope braided from horsehair.

These ice patches, known as Mongolia’s “eternal ice” because they normally stay intact even in summer, are melting at an accelerated rate due to climate change.

As piles of ice and snow recede, ancient objects from many periods of Mongolian history are spilling from their frozen prisons to be glimpsed for the first time by modern eyes, according to a study published on Wednesday in the open-access journal PLOS ONE.

But even as this rapid ice melt opens a window into Mongolia’s past, it also threatens the future of the traditions and lifeways practiced by the people who live there today.

“Folks in essentially every corner of Mongolia that we’ve worked in don’t have the luxury of climate denial, because their day-to-day life is drastically impacted by these changes,” said lead author William Taylor, an archeologist at the Max Planck Institute for the Science of Human History and the University of Colorado-Boulder, in a call.

“People within the last decade have seen a number of important patches that were a big focus of their livelihoods melt completely,” he noted.

While important artifacts are being recovered from some of the ice patches, Taylor emphasized that troves of archeological objects may be destroyed by the melt before people can collect them. Even if ice patches that fully melted in one season return in colder weather, for instance, the degradation of archeological materials that were preserved inside them could never be reversed.

“The vast majority of the artifacts that we recovered were actually from a patch which was in its absolute dying throes when we visited,” he explained. “So, that’s really sad and it suggests that we probably have already lost a lot of the important clues to this particular part of Mongolia.”

During research trips to Mongolia last year, reported in the new study, the team quickly realized the troubling implications of climate change for the region’s extraordinary heritage and cultural practices, such as reindeer pastoralism.

At one of the ice patches, Taylor and his colleagues discovered wooden artifacts that had melted out of the snowpack. Interviews with the Tsaatan people, who are domestic reindeer herders in northern Mongolia, suggest that one of the items was a fishing pole made of willow wood. Radiocarbon-dating of these specimens revealed that they were likely fashioned in modern times, around the 1960s and 70s.

Galvanized by the ticking clock of the ice melt, the team organized another expedition to survey ice patches and glaciers in Western Mongolia this year. The researchers relied on the knowledge of locals to guide them to sites that they suspected might be hemorrhaging artifacts during the summer melt.

A man named Bekbolat Bugibay, who runs a tour company, showed them an arrow shaft he had discovered that appeared to date from “the time of Genghis Khan,” according to Taylor.

Bugibay directed to them to the glacial site where he retrieved it, on the slopes of a 4,000-meter-high mountain. The team was able to reach the glacier, even after a storm destroyed three of their tents during the trek.

Toward the end of an exhausting day, Taylor and his colleague Nick Jarman spotted an arrow emerging from the ice at the bottom of the glacier. Upon closer examination, they realized it was made of bronze, and probably dated back to the Bronze Age some 3,000 years ago.

“When we actually spotted that glint of green of the bronze melting, poking through the ice, the first reaction was genuinely a loss of breath,” Taylor recalled.

“The next thing that settles in is the enormity of what you’re looking at,” he said. “You’re looking at something that has literally been preserved almost exactly as it entered this ice millennia ago.”

This arrowhead is the team’s “star find,” Taylor said, though its age has not yet been verified with radiocarbon dating.

The 2019 expedition also uncovered the horsehair rope, numerous animal skeletons that were likely hunted and deposited by humans, and wooden artifacts that may be spear shafts that predate the Bronze Age, though it will take radiocarbon-dating to be sure.

As thrilling as these finds have been for Taylor and his colleagues, the team is mindful of the bigger picture. The new study focuses on the Tsaatan herders who rely on ice patches as a source of water for themselves and their reindeer, as well as a place to retreat from irritating bugs and summer heat.

In interviews with Tsaatan families, the researchers learned what an enormous toll climate change has been exacting on their economic stability and cultural traditions. Despite the fact that these remote populations are essentially blameless for the climate crisis, which is primarily caused by fossil fuel emissions from wealthy nations, they are facing disproportionate disruptions as they lose a crucial source of freshwater.

“If you read a story like this and you’re not just outraged at the injustice of it, then there’s something wrong,” Taylor said. “The issue here is that we not only have folks who have done very little to contribute to the problem, but we see that climate change is undercutting the viability of their way of making a living and erasing the clues we have to their past and their cultural heritage.”

“This example should be really troubling especially because this is just one corner of Eurasia, and this kind of research has not really been done in vast swaths of the globe,” he added. “This same story may be playing out in other places and we really don’t know the scope of the problem.”

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Foreign exchange reserves reaches USD 3.7 billion, eight months of imports www.montsame.mn

Ulaanbaatar /MONTSAME/. On November 20, the Parliamentary Standing Committee on Economy conducted the first discussion of a draft resolution on approval of the State Policy on Monetary Policy for 2020. The state policy is aimed at strengthening economic and financial system stability and supporting financial market development. In 2020, an annual inflation rate is projected at 8 percent and mid-term targeted inflation rate is set at 6 percent.

Some measures of legislative reforms in the bank and financial sector and improvement of risk management of the banking sector were also reflected in the draft. The Bank of Mongolia’s operations will be focusing on ensuring economic stability and making its activities more accessible to the public, maintaining positive changes happening in the Mongolian economy and preventing from potential risks.

During the meeting, some statistical information was provided. As of September 2019, the total credit of Mongolia’s the banking sector increased by 10 percent compared to the same period of last year. Indicating that the economic recession period of Mongolia has ended to move forward to period of growth, the actual growth of the economy was at 7.3 percent in the first half of this year and the total foreign exchange reserves held by a central bank was USD 3.7 billion, which is enough to cover imports of 8-9 months.

After reflecting suggestions and proposals from the standing committee members, the draft resolution was forwarded for the parliamentary plenary meeting's discussion.

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