Mongolia: 2023 Article IV Consultation-Press Release; and Staff Report

October 4, 2023

Preview Citation

Format: Chicago

Mongolia: 2023 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed December 21, 2024

Summary

Mongolia’s economic conditions stabilized by 2023H2, helped by China’s reopening. The economy was in a challenging position in 2022 with widening external and internal imbalances due to multiple global shocks, policy excesses and governance lapses. However, greater exchange rate (ER) flexibility; the government’s strenuous efforts to facilitate exports; an influx of new private external financing, and some moderation of global shocks helped lift economic activity, moderate inflation, and stabilize the external position by end-2022. Effective public debt management by the government mitigated rollover risks. A supplementary budget for 2023 introduced large and permanent expansions in wages, benefits, and pensions.

Subject: Commercial banks, Environment, Financial institutions, Fiscal policy, Inflation, International organization, Monetary policy, Non-renewable resources, Prices, Public debt

Keywords: Asia and Pacific, Commercial banks, Fund staff, Global, IMF expert, IMF staff calculation, IMF TA, Inflation, Market segmentation, Non-renewable resources, Swap line

Publication Details

Pages:

109
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/348
Stock No:

1MNGEA2023002
ISBN:

9798400255519
ISSN:

1934-7685

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