Ulaanbaatar /MONTSAME/ Speaker of the parliament G.Zandanshatar received Neil Saker, International Monetary Fund (IMF) Resident Representative in Mongolia on March 4.  

At the meeting, Mr. Neil Saker briefed cooperation between the Government of Mongolia and IMF, Extended Fund Facility Program (EFF), its implementation and progress.

He said “IMF staff team has conducted the sixth review of EFF program in November, 2018. According to the review, Mongolia’s macro-economic indicators stand positive and all objectives have been fulfilled. Moreover, IMF considers that the Mongolian government made a big achievement in overcoming its economic crisis. As a result of the program, the country’s economic growth is expected to be around 8 percent in 2019, which was 1.2 percent in 2016. By improving budget integrity and discipline, the government had fiscal surplus last year for the first time. Furthermore, amount of Government debt has considerably decreased.”

Emphasizing that Mongolia’s economic growth has being accelerated with increased investment and improved budget discipline as the country got involved in IMF EFF program, Speaker G.Zandanshatar expressed his gratitude. ”Mongolia has a necessity to diversify its economy and it is required to implement a policy targeted to export and finance projects and programs in this direction.”

Published Date:2019-03-05