Ulaanbaatar
Governor of the Bank of Mongolia Named Among Top Central Bank Leaders
Economy
Ulaanbaatar, October 8, 2025 /MONTSAME/. The Global Finance magazine has announced the results of its “Best
Central Banker Award 2025.”
In
the “Central Banker Report Cards-2025,” which evaluates central bank governors
worldwide, the Governor of the Bank of Mongolia, Lkhagvasuren Byadran, was
awarded an “A-” grade. This is the second consecutive year he has received a
top rating, placing him among the most highly regarded central bank leaders
globally.
The
“Central Banker Report Cards,” published annually since 1994, evaluates the
performance of central bank governors from more than 100 countries based on the
following criteria:
- Implementation of key objectives
- Effectiveness in promoting economic growth and financial stability
- Success in maintaining inflation and currency stability
- Ability
to ensure central bank independence
Central
bank governors are graded on a scale from “A+” to “F.” The Bank of Mongolia
reconfirmed its strong performance this year, having already secured an “A”
rating in 2024.
In
2025, 26 central bank governors worldwide received ratings between “A+” and
“A-.” Among them, the central bank governors of Denmark, the United States, and
Vietnam were awarded “A+.” Meanwhile, governors from Chile, Costa Rica,
Indonesia, the Czech Republic, Egypt, Ethiopia, Mongolia, and others received
“A” ratings.
Despite
economic challenges following the COVID-19 pandemic, Mongolia has managed to
stabilise inflation and maintain overall economic resilience. In 2024,
inflation decreased significantly, while monetary and fiscal policies
contributed to the stabilisation of the national currency. Mongolia also
successfully fulfilled foreign debt obligations and ensured stable
macroeconomic conditions, while agricultural production supported broader
growth.
Currently,
the Bank of Mongolia is pursuing a medium-term inflation target of 6 percent ±2
percentage points, aiming to lower it further to 5 percent and within a range
of 3–7 percent by 2027.
Commenting
on the results, Joseph Giarraputo, founder and publisher of Global Finance,
said:
“In recent years, central banks have applied the most effective tools to fight inflation. In Mongolia’s case, tough but necessary measures have been taken. Inflation has declined, and economic stability has improved. The ‘Central Banker Report Cards’ evaluates governors not only on whether they meet policy objectives and outcomes but also on how they ensure independence, maintain consistency in policy, and achieve visible results.”
