Prime Minister receives IMF delegates

2022-05-03 16:33:57

Ulaanbaatar /MONTSAME/. On April 29, Prime Minister of Mongolia L.Oyun-Erdene received the delegates of the International Monetary Fund /IMF/ working group.


Prime Minister L.Oyun-Erdene expressed gratitude to the IMF working group for their visit as well as for supporting Mongolia during the difficult times of the Covid-19 pandemic.

During the meeting, Prime Minister L.Oyun-Erdene said, “Developing countries including Mongolia face new difficulties such as inflation, rise in price, and currency shortages due to the pandemic and Russia-Ukraine crisis. The Mongolian Government initiated a Bill on preventing the rise in prices and shortages of key commodities and had it approved by the Parliament. Now, the Government is working in its framework.” Also, he expressed support to the Bank of Mongolia for making efforts to protect its foreign exchange reserves and prevent shortages.

The IMF considers that it is important for public institutions to focus on cost-saving and targeting child allowance and welfare to the target groups in order for Mongolia to protect itself from potential risks.  “IMF is supportive of commercial banks’ IPOs. However, it should be postponed considering the adverse effects of the pandemic and the international crisis”, the working group of the IMF added.