Mongolia agrees economic bailout plan worth $5.5 billion with IMF, other partners
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Mongolia has agreed with the International Monetary Fund and other partners for a $5.5 billion economic stabilization package, according to a statement from the IMF on Sunday.
Asia Development Bank, World Bank and bilateral partners, including Japan and South Korea, will provide up to $3 billion, while People’s Bank of China will expand a swap line worth 15 billion yuan ($2.19 billion), the IMF said.
IMF will offer three-year loans worth about $440 million.
(Reporting by Terrence Edwards; Editing by Himani Sarkar)
| http://www.reuters.com/article/us-mongolia-imf-idUSKBN15Y02S |
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