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 November 15, 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:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2023/348
Stock No:

1MNGEA2023002
ISBN:

9798400255519
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports