Ulaanbaatar /MONTSAME/. The 2021 Spring Meetings of the World Bank Group and the International Monetary Fund and related ancillary events took place virtually from Monday, April 5 to Sunday, April 11.

The Spring Meetings of the International Monetary Fund (IMF) and the Board of Governors of the World Bank Group (WBG) bring together central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and other events on the global economy, international development, and the world's financial system. 

Representing the government of Mongolia, Minister of Finance B.Javkhlan participated in the plenary session ‘Post-COVID-19 Regional Economic Outlook’ and other meetings and events. Moreover, the Minister held bilateral meetings with Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund, Victoria Kwakwa, East Asia and Pacific Regional Vice President of the World Bank, Nigel Ray, World Bank Group Executive Director representing Mongolia and Geoff Gottlieb, International Monetary Fund Chief of Staff to Mongolia within the framework of the Spring Meetings. 

Throughout the meetings, Minister Javkhlan presented the current state, financial situation, and future outlook of Mongolia’s economy and exchanged views on the government’s comprehensive plan with a total price of MNT 10 trillion for economic recovery and health protection and its implementation. 

The Minister highlighted that the government is making all-round efforts for vaccinating its entire adult population in the first place and is also focusing to protect employment amid the pandemic. Furthermore, he requested and called for international donor organizations to revisit and soften some of the requirements set for financial assistance of vaccine supply to the member countries as it would be a huge support for especially the developing nations. 

At the aforementioned meetings, IMF and World Bank Group’s representatives praised that the Mongolian Government’s COVID-10 response measures have been effective and prompt and the public vaccination drive and mass testing while imposing lockdown have been swift, as reported by the Ministry of Finance of Mongolia. The sides then expressed their readiness to maintain close collaboration to achieve successful implementation of policies, projects, and programs to carry out in the next several years.