1 KINCORA ADVANCES DISTRICT SCALE PORPHYRY EXPLORATION WITH DRILLING AT THE ULGII KHUD MASSIF, SOUTHERN MONGOLIA WWW.KINCORACOPPER.COM  PUBLISHED:2017/10/24      2 MONGOLIA AND CUBA TO COOPERATE IN HEALTHCARE, AGRICULTURE AND SPORTS SECTORS WWW.AKIPRESS.COM  PUBLISHED:2017/10/24      3 FIRST RUSSIAN IPO IN LONDON SINCE SANCTIONS TO TEST WESTERN INVESTOR SENTIMENT WWW.RT.COM  PUBLISHED:2017/10/24      4 HEDGE FUND SUES BARCLAYS BANK FOR £650M OVER ALLEGED COPPER MARKET RIGGING WWW.MINING.COM  PUBLISHED:2017/10/23      5 NOBLE GROUP TO SELL OIL LIQUIDS UNIT TO VITOL, FLAGS $1.2 BILLION LOSS WWW.REUTERS.COM PUBLISHED:2017/10/23      6 TESLA STRIKES DEAL WITH SHANGHAI TO BUILD FACTORY IN CHINA WWW.WSJ.COM  PUBLISHED:2017/10/23      7 CHINA HELPS MYANMAR IN DEVELOPMENT OF MONETARY SERVICES: BANKER WWW.XINHUANET.COM  PUBLISHED:2017/10/23      8 PUSH TO PROTECT TWO OF CENTRAL ASIA'S RAREST SPECIES WWW.GULF-TIMES.COM PUBLISHED:2017/10/23      9 MONGOLIA AND ADB SIGN AGREEMENTS TO DEVELOP HEALTH, EDUCATION MASTER PLANS WWW.MONTSAME.MN  PUBLISHED:2017/10/23      10 JPMORGAN PARTNERS WITH DATA START-UP TO BOOST FIXED-INCOME TRADING WWW.REUTERS.COM  PUBLISHED:2017/10/23      WSJ: МОНГОЛ УЛСЫН ЗАСГИЙН ГАЗАР 650 САЯ ХҮРТЭЛХ АМ.ДОЛЛАРЫН БОНД ГАРГАХААР ТӨЛӨВЛӨЖ БАЙНА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/10/24     У.ХҮРЭЛСҮХ: ТӨРИЙН АЛБАНЫ БҮХ ШАТАНД ӨНДӨР ЁС СУРТАХУУНТАЙ АЖИЛЛАХЫГ ХАТУУ ШААРДАНА WWW.UNUUDUR.MN  НИЙТЭЛСЭН:2017/10/23     УЛААНБААТАР-ПУСАН ХОТ "ЭГЧ ДҮҮСИЙН ТОСГОН" БАЙГУУЛНА WWW.NEWS.GOGO.MN  НИЙТЭЛСЭН:2017/10/23     ШӨНИЙН ТАРИФЫН ХӨНГӨЛӨЛТ БИЙ БОЛСНООР ЦАХИЛГААНЫ ХЭРЭГЛЭЭ 17 ХУВИАР ӨССӨН WWW.NEWS.GOGO.MN  НИЙТЭЛСЭН:2017/10/23     БХБ-ЫН САЙД Х.БАДЕЛХАН АХБ-НЫ МОНГОЛ ДАХЬ СУУРИН ТӨЛӨӨЛӨГЧИЙГ ХҮЛЭЭН АВЧ УУЛЗАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2017/10/23     БОГДХАН ТӨМӨР ЗАМ БАРИНА WWW.NEWS.MN  НИЙТЭЛСЭН:2017/10/23     КВОТЫН ХОРИГТ ӨРТСӨН ЭКСПОРТ WWW.ERDENESMONGOL.MN  НИЙТЭЛСЭН:2017/10/23     NASDAQ: МОНГОЛ УЛС ӨРӨӨ ЦЭГЦЭЛНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2017/10/23     АГААРЫН БОХИРДЛЫГ БУУРУУЛАХ ЧИГЛЭЛД ҮЙЛ АЖИЛЛАГАА ЯВУУЛЖ БАЙГАА ААН-ИЙН ТОО 27 ХУВИАР НЭМЭГДЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2017/10/23     БНХАУ-ЫН ГАНГИЙН ҮЙЛДВЭРИЙГ БАГАСГАХ БОДЛОГО ТҮҮХИЙ ЭДИЙН ҮНЭД СӨРГӨӨР НӨЛӨӨЛЖ МАГАДГҮЙ WWW.DNN.MN НИЙТЭЛСЭН:2017/10/23    

PM: “Government of Mongolia to be debt-free to Chalco within this month” www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister of Mongolia J.Erdenebat met with the leaders of the administrative organizations under the government to give some directions. He also reflected on actions taken by his cabinet for the last seven months since formation.

J.Erdenebat was appointed as the Prime Minister eight months ago. In a month in the Premier’s office, J.Erdenebat formed his cabinet, hailed as “professional”.

“To look back on the works done by our cabinet, I would call it a “cleaning” cabinet”, said the Premier and provided examples to back his argument.

At first, he said, our cabinet has sophisticated the budgetary system and commenced the action for applying discipline in public expenditures. “We were greeted by an economy that had one of the world’s most critical government budget balance in terms of deficit. The budget deficit was a consequence of careless spending of taxpayers’ money”, he added.

Secondly, the new cabinet has successfully captured opportunities and put an end to the impeachment, which was about whether the Mongolian government would announce a default or not due to the outstanding debt from the government bonds. This government has settled the issue of USD 580 million debt, and shed a light on investors’ confidence.

He went on to say “This is not any kind of political advertisement. The fact that foreign investors offered USD 3.3 billion bid for the recently-issued government bond of USD 124 million can back up the accomplishments of this government”.

Last but not least, Mongolia will be free of debt owing to Chalco Company of China within this month. Thanks to this, the East Tsankhi pit of the coal giant Tavantolgoi mine is finally getting into Mongolian people’s full ownership after seven years. In other words, profit from coal mining in East Tsankhi will go directly to the Mongolian government budget.

“We decided not to just watch what happens with the coal price in the world. This government launched an open auction for Tavantolgoi’s coal and sold at the highest ever price – 72.5 USD per ton” he said.

Although, some of the above mentioned works have been already initiated under the previous governance, our cabinet pushed forward the stagnated processes, added the Prime Minister. “Mongolia’s economy has so much more work. The difficult part is not over yet. Mongolia has just stepped up to the threshold of many decisive steps”.

 
 
 


Published Date:2017-03-20