Minister of Finance Ch. Khurelbaatar and the Governor of the Bank of Mongolia (BoM) N. Bayartsaikhan signed a cooperation agreement on economic reform after discussing the BoM paying interest on the state fund's general tugrug account.
The agreement will help the two parties coordinate on developing monetary policy with the government’s monetary capital management in mind, and to improve the state's financial transparency and debt management.
Under the agreement, the Ministry of Finance sold 360 million USD to the BoM. Officials say that the agreement will result in budget and monetary policy being implemented more comprehensively with greater economic benefit.
Minister of Finance Ch. Khurelbaatar and the Governor of the Bank of Mongolia (BoM) N. Bayartsaikhan signed a cooperation agreement on economic reform after discussing the BoM paying interest on the state fund's general tugrug account.
The agreement will help the two parties coordinate on developing monetary policy with the government’s monetary capital management in mind, and to improve the state's financial transparency and debt management.
Under the agreement, the Ministry of Finance sold 360 million USD to the BoM. Officials say that the agreement will result in budget and monetary policy being implemented more comprehensively with greater economic benefit.