“Oyu Tolgoi draft agreement will be discussed, adopted by the State Great Khural and the Government will be granted with power to sign on it very soon” says an official who is close to the development around the issue. According to his talks, Oyu tolgoi agreement will be adopted before Naadam Festival and the Government might sign on it before the end of July.
Business-mongolia.com reviews that the biggest leverage for this urgency is obviously the global financial recession. Mongolia would have budget deficit of 93 billion MNT (80 million US$) by the end of this year. Therefore, the Government had to cut some of its social welfare expenses, including newly marriage allowance, even child money.
Business-mongolia.com will come with more updates in next two weeks.
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Amarsanaa,
If this is true then the week should be very interesting!!
Who is your source?
Eric, and Amaransaa,
I agree, Interviewees should be willing to go on record publically. otherwise, where is the accountability factor. Citizens and investors should know who is to be held accountable for both encouraging developments or dissapointing delays.
Not much time left in the Spring Session, which I believe is over on the 11th of July. If this agreement, the OT IA, Mongolian would NOT be running budget deficits and would be in good economic situation. Instead citizens and investors, and Mongolian treasury all suffer, when it could have been avoided.
My suggestion is for MPs to NOY be greedy near term, the money will come to the treasury in time, all involved will prosper.
Spend the needed time to work this IA out, NOW. If it takes working 24 hours a day, then that is what they should do.
If these negotiators are not willing to do that then there are new people needed on all fronts, elected officials included.
“B”
“B”
I’v heard this before- The Market (investors say show me) IVN stock was down .. the mongolian side has no respect from the worlds investors. THis will drag on for years to come … no deal this year! .To late to get equipment into mongolia …. winter is on its way …
Amaransaa,
Any updates??
We have heard this type of rumour for the last two years. To quote Jerry McGuire “show me the money”
Amaransaa,
Can you please confirm.
http://ubpost.mongolnews.mn/index.php?option=com_content&task=view&id=3206&Itemid=40
I don’t have subscription on it.
Basically it says that IA has been signed by the gov and is ready for RTP / IVN approval.
Have you heard anything about the IA?
yes, it is almost ready to be signed. Only small procedural issues such as general discussion for SGK.