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Mongolia’s political growing pains continue ahead of 2016 poll
Young democracies such as Mongolia’s, which this year celebrates a quarter of a century since holding its first free election, face enormous challenges in maintaining government stability, improving the living standards of its population and battling institutional corruption. Growing the economy can help achieve these goals, but it’s a difficult feat balancing the wants of [...]
Mongolia in a 100-day sprint to revive economy
In May the Mongolian government continued its efforts to make amends with investors and restore the lustre to its once prosperous economy. This latest legislative push will see the country roll out a new coordinated effort to settle disputes in its mining a sector and tip the balance of investment returns once more in favour [...]
Mongolia pins hopes on new laws to breathe life into stock market
Trading rooms at the Mongolian Stock Exchange (MSE) appeared empty in the early afternoon of a December day in Ulaanbaatar. Most of the employees had left earlier to get ready for the corporate year-end party scheduled for the same evening. Above the empty desks, the quotes of Mongolian stocks scrolled by on the ticker. Only [...]
Mongolia’s “godfather of corruption” plots return
A December vow to return to politics made from a hospital bed in South Korea by one of Mongolia’s most popular yet controversial politicians threatens to rock the country’s fragile coalition government and complicate tricky negotiations with foreign investors.
Mongolian central bank forecasts Oyu Tolgoi will spur growth recovery
The Mongolian central bank has forecast a strong rebound for the economy in 2014. However, a return to GDP expansion in the high teens depends on agreeing a route to progress the Oyu Tolgoi mine.
Mongolia’s supercharged credit boom
One of the fastest growing economies in the world, Mongolia is also experiencing a long and stunning credit boom, with lending having boosted by 48% in the last 12 months. As Morgan Stanley pointed out this week, that risk is only made greater by the fact that the boom is now mainly being funded by [...]
Mongolia – a tale of two mines
It is not the best of times for Mongolia’s two largest mines. Both are falling well short of their moneymaking potential and, ever mindful of this, the government is in talks with its partners in each project to open a new chapter in the Mongolian investment story.
Mongolia plans emergency parliament session on investment law
Mongolia is to recall parliament for an emergency session on September 2-6 to pass new legislation on foreign investment, in an attempt to reassure international investors after foreign direct investment (FDI) fell dramatically in the first half of 2013.
Mongolian investor heads for the final frontier
A small yet bold Mongolian firm is preparing to launch a new oil enterprise in North Korea. It’s an unlikely pairing, but the firm is betting it has the key ingredients to make such an unlikely gamble pay.
Soul mining in Mongolia
Tamir and Byamba are two men under the age of 30 who live two sides of the Mongolian story. Tamir is a marketing professional working for an investment bank who was spending his Wednesday evening at the posh Sky Lounge on the 17th floor of Central Tower for a networking happy hour event. Byamba spent [...]
Mongolia seeks to limit restrictions on foreign investment
The Mongolian government has drawn up an amendment to the country’s controversial Strategic Foreign Investment Law that would relax restrictions on private investors.
Mongolia’s new government faces old problems
The term “Dutch Disease” may have originally been coined in relation to a gasfield in The Netherlands, but Mongolia is finding out that it can just as well apply to coal. This “black gold” that propelled Mongolia’s economic growth to a record 17.3% in 2011 is now in a sudden glut and Chinese demand has [...]
Coalition takes over at crucial time in Mongolia’s development
Three weeks after winning 31 out of 76 seats in the Mongolian parliamentary elections on June 28, the Democratic Party (DP) said it has formed a coalition with a number of smaller parties in order to secure a majority. This untested party will oversee a crucial period in Mongolia’s post-communist history as large resource projects [...]
The poverty of nations
It can be miserable living in an economy in transition. Hyperinflation might destroy your life savings in a matter of months. Your job may be pointless and pay badly – until you lose it that is. And then you could be condemned to poverty because there’s no social safety net to speak of. However, much [...]