Rapidly Growing Mongolia Hopes to Avoid Overheating

Mongolian Prime Minister Sukhbaatar Batbold said a tight monetary policy and budget discipline will check the rate of inflation and prevent Mongolia’s economy, one of the world’s fastest-growing, from overheating. Buoyed by a wave of foreign direct investment to exploit its extensive but largely untapped natural resources, Mongolia’s gross domestic product surged 17.3% last year—up […]

Mongolia coal rail plans delayed on financing issues

Mongolia’s ambitious plan to build a railway network capable of delivering its surging coal output to foreign markets is likely to be delayed as a result of financing difficulties and bureaucratic deadlocks, government officials said on Friday. Purevbaatar Luvsandavag, vice-chairman of the Mongolia Railway Authority, told Reuters on the sidelines of the Coal Mongolia conference […]

Report Highlights Six Steps to Help Developing Countries Avoid the "Resource Curse"

Six building blocks can help lift some of the least developed countries in the world out of poverty by harnessing their mineral wealth, according to a new report published jointly today by the World Economic Forum and The Boston Consulting Group. The report, “A Framework for Advancing Responsible Mineral Development,” draws on the expertise of […]

Government Establishes Price Control Council to fight inflation

Yesterday, the Mongolian government has established a price control council tasked with containing the country’s rising inflation. The council, headed by Finance Minister S.Bayartsogt, will oversee the implementation of a price control program and report to the government every month, according to the reports. The government has urged all its agencies and local governments to […]