Ангилал: Эдийн засгийн хямрал
Fitch Downgrades Mongolia to ‘B-’; Outlook Stable
Fitch Ratings has downgraded Mongolia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B-’ from ‘B’. The Outlooks are Stable. The issue ratings on Mongolia’s senior unsecured foreign-currency bonds have also been downgraded to ‘B-’ from ‘B’.
Moody’s downgrades Development Bank of Mongolia’s rating to Caa1 from B3
Moody’s downgrades development bank of mongolia’s rating to caa1 from b3; changes outlook to stable
Mongolia Rating Cut as Moody’s Expects Elevated Debt Burden
Mongolia’s debt rating was downgraded by Moody’s Investors Service as there is “heightened uncertainty” over the government’s ability to meet its debt service obligations over the next two years and an expectation that the debt will increase.
Mongolia’s economy shrinks in first nine months as it discusses bail-outs
Mongolia’s economy shrunk in the first nine months of the year, stoking concern annual growth could contract for the first time since the global financial crisis while it weighs bail-out options from agencies such as the IMF and partner countries.
Mongolia Will ‘Walk the Walk’ to Revive Economy in Crisis
In the face of the current crisis, Mongolia cut spending and requested support from the IMF. To turn the economy around, the new government aims to lure foreign money to pay for stalled infrastructure and mining projects.
Mongolian Officials Back IMF Program Amid Widening Budget Gap
With the currency hitting record lows and the budget deficit worsening, senior Mongolian officials said they support an assistance program from the International Monetary Fund.
Statement at the Conclusion of the IMF Mission to Mongolia
An International Monetary Fund (IMF) mission led by Mr. Koshy Mathai visited Ulaanbaatar during October 24–November 4, 2016. Mr. Neil Saker, the IMF’s Resident Representative in Mongolia, issued the following statement at the conclusion of the visit:
ERBD: GDP Mongolia -1.6% (2017)
The European Bank for Reconstruction and Development has warned of a potentially “scary” economic hit to its bloc of countries if Britain’s exit from the European Union goes badly and fuels a backlash against market economy reform.
No stopping insane coal price rally
The price of both thermal and coking coal gained again on Monday with the Australian export benchmark shrugging off news that Beijing will further relax restrictions on some domestic miners to meet winter demand.
Mongolia succumbs to the ‘resource curse’
At the end of September Mongolia’s Prime Minister Erdenebat Jargaltulga announced that his country would be seeking IMF assistance to help stem its continuing economic woes. This plea for help finally confirmed what many suspected: Mongolia has succumbed to the dreaded ‘resource curse’. On the surface level the idea of a resource curse seems to [...]
Mongolian PM on mission to halve budget deficit ratio to 9%
Mongolian Prime Minister Jargaltulga Erdenebat aims to slash his government’s budget deficit for fiscal 2017 in half, as a percentage of gross domestic product.
What the IMF’s return means for Mongolia
The story of Mongolia’s relationship with the International Monetary Fund is a tale of geopolitics, local greed, mismanagement and uneasy ties with Chinese and Western investors. The return of the IMF to Ulaanbaatar is a harsh wake-up call for Mongolians and investors alike.
Mongolia Seeks IMF Cash to Revive Economy as Investment Dries Up
Five years ago Mongolia’s 17 percent growth rate, vast coal and copper resources and strategic location next to China made it an emerging-market darling. Today its financial leaders are headed for Washington to meet with the International Monetary Fund to seek assistance to deal with an economic crisis.
Mongolia to get rid of economic difficulties to help Asian investment bank: want to repair the railway connecting Europe transit China
The recent economic crisis hit Mongolia, the Northeast Asia country has to giant tower temperature Tolgoi to restart the stalled (Tavan Tolgoi) coal mine, in addition, Mongolia also want to start some railway projects, the investment bank and intends to set up to help China initiative, in order to attract investment and promote trade, deal [...]
As Mongolia teeters, bond investors bank on China for bailout
Holders of Mongolia’s high-yielding dollar bonds are looking beyond a sharp rise in sovereign default risks on a bet that China or the International Monetary Fund (IMF) will help the once-booming commodity producer to stay solvent.
Mongolia Shares Mirror Crisis, Post Worst Run Since 2013: Chart
During the commodities boom, Mongolia’s stock market more than doubled in a single year.
Consolidating Mongolia Budgets Is Priority No. 1, Minister Says
Priority No. 1 for the newly elected government in Mongolia is consolidating all off-budget expenses into one budget to enhance transparency, said Munkh-Orgil Tsend, the country’s foreign minister.
Moody’s takes negative rating actions on eight Mongolian banks following sovereign downgrade
Moody’s Investors Service has downgraded the foreign currency long-term deposit ratings of seven Mongolian banks to Caa1 from B3, and initiated a review for further downgrade. The seven banks are: Bogd Bank LLC; Capital Bank LLC; Golomt Bank LLC; Khan Bank LLC; State Bank LLC; Trade and Development Bank of Mongolia LLC; and XacBank LLC.
Mongolia’s Epic Meltdown Won’t Be Reversed by a Commodity Revival
The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer.
Fitch: Mongolia’s Refinancing Risks Deepen as Currency Plummets
The rapid depreciation of the Mongolian tugrik – which has plunged more than 20% since end-June – underscores the country’s strained external liquidity and escalating refinancing risks, says Fitch Ratings. Fitch believes the currency volatility reflects deep short-term external liquidity constraints and economic challenges, while immediate solvency risk is mitigated by the fact that the [...]
Экономический крах Монголии: потомки Чингисхана переживают кризис
Страна в отчаянном положении: денег нет, госдолг растет, зарплаты сокращают, и маячит призрак дефолта. Еще в 2008 году Монголия почтила честь своего национального героя Чингисхана огромной статуей из стали на берегу реки Туул примерно в получасе езды от Улан-Батора, столицы страны.
Why Bondholders Are Belittling Mongolia’s Crisis Warning
They’re the titans that set powerful governments trembling. Yet bondholders are evoking little fear among officials in Mongolia. In fact, it’s quite the reverse.
Fitch cuts rating on Mongolia’s long-term sovereign debt
A significant weakening in the country’s growth prospects led analysts at Fitch Ratings to sour in their view on the creditworthiness of Mongolia’s long-term debt.
S&P lowers Mongolia’s long-term rating’B-’ on weakening growth performance
S&P lowers Mongolia sovereign credit rating to B- From B
Mongolian Olympians left unpaid as country wrestles with crisis
As mostly sports-mad Mongolians cheer on the country’s two medallists at the Rio Olympic Games, deepening economic troubles at home mean the new government cannot afford to pay its athletes.
Mongolia raises interest rates in bid to stabilise tumbling currency
Mongolia raised its benchmark interest rates by 4.5 percentage points to 15 percent on Thursday, the central bank said, as it struggles to stabilise a currency that has been in free-fall.
Mongolia Hikes Interest Rate to 15% Protect Currency
The central bank of Mongolia raised its key interest rate to 15 percent to protect the currency, reversing a cut in borrowing costs to 10.5 percent in May.