Meeting With Governor of the Bank of Mongolia N.Bayartsaikhan

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2017-08-02 09:39 GMT+8

On August 1, the President of Mongolia Khaltmaagiin Battulga welcomed N.Bayartsaikhan, the Governor of the Bank of Mongolia.

They discussed the implementation of the extended arrangement under Extended Fund Facility of the International Monetary Fund /IMF/ and exchanged views on the difficulties.

Governor of the Bank of Mongolia N.Bayartsaikhan said that a concluding meeting between the Bank of Mongolia and the International Monetary Fund will be held tomorrow. In the scope of the agreement with the IMF, the Bank of Mongolia has started a broad set of structural reforms in the banking and financial sector. But the Government of Mongolia breached the agreement by enabling the hild Money Program and it was criticized by the IMF.

Governor of the Bank of Mongolia N.Bayartsaikhan agreed to inform President Battulga on some important issues. By June 30, 2017, according to the central bank, citizens have salary and pension loans totaling 2,845,310 MNT from the commercial banks.

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