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IMF mission returns to headquarters

MONTSAME
2016-11-07 17:55 GMT+8

Chairman of the State Great Khural (Parliament) M.Enkhbold welcomed the International Monetary Fund mission led by Mr Neil Saker at the State House on Nov 4, 2016. The Speaker extended gratitude to the delegates for conducting assessment survey on the current state of Mongolia’s economy, releasing a report and agreeing for cooperation.

Mr M.Enkhbold also said that he finds the IMF arrangement suitable for Mongolia in these times of economic recession, and that he believes that the difficulties will be overcome in a short period owing to the adequate responses taken by the decision-makers, their experiences and Mongolia’s natural resources and source of potentials.

Resident Representative of the IMF to Mongolia Neil Saker noted the mission held very productive discussions with the Mongolian authorities on the 2016 Article IV Consultation as well as on policies that could become part of an IMF-supported economic and financial program. Common policy views were developed in many key areas. We have identified the main problems and determined the further actions. The team will now return to IMF headquarters to give time for further consultations on both sides. The report will be presented at the IMF headquarters. We would like to thank the authorities for their warm welcome and close cooperation and look forward to continuing our joint work to help address the challenges facing the Mongolian economy.

Speaker M.Enkhbold pledged all necessary support for effective delivery of IMF recommendations in Mongolia through finalizing the set of measures for overcoming the economic difficulties that has recently been submitted to the State Great Khural. He also highlighted that the Standby Arrangement from 2009 was a success. 

IMF mission led by Mr. Koshy Mathai visited Ulaanbaatar during October 24–November 4, 2016.

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