Prime Minister meets with International Monetary Fund Resident Representative

2021-03-09 17:54:14

On March 9, Prime Minister L.Oyun-Erdene met with International Monetary Fund (IMF) Resident Representative for Mongolia Mr. Seok Hyun Yoon. 

At the meeting, the Prime Minister underlined that this year marks 30th anniversary since Mongolia joined the International Monetary Fund and thanked for its budgetary support for Mongolia and prompt action to Mongolia’s request for emergency financial assistance under the Rapid Financing Instrument. 

He also mentioned that as a result of the IMF’s Extended Fund Facility for 2017 and 2020 Mongolia’s economy showed positive signs with reduced budget deficit and economic stability and macro environment promoted. Afterwards, the PM provided information on the government’s comprehensive plan of MNT 10 trillion for economic recovery and health protection as well as the vaccination program underway. 

For his part, the IMF Resident Representative expressed his confidence that the government measures against COVID-19 pandemic and the MNT 10-trillion trillion will achieve good results and mentioned that Mongolia is one of the countries who successfully implemented the Extended Fund Facility and was delisted from the Financial Action Task Force (FATF)’s ‘grey list’ within a short period of time. 

They also exchanged views on issues on economic diversification, budgetary reform, vaccine supply under COVAX Facility and corruption reduction. 

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