Our government will cooperate with the world community to overcome the crisis.
Economy Policy conference was jointly held by the Government of Mongolia and World Bank Resident Representative at the Government House of Mongolia. The main agenda of the conference was how to get through the crisis with the minimum loss and it was attended by the leading economists of the world and Mongolia. The conference was opened by President N.Enkhbayar and speeches were provided by Mr.Justin Lin, chief economist of World Bank, Mr. Yegor Gaidar, former Prime Minister of Russian Federation and Mr. Richard Pompret, an expert in international economy. They introduced about the experiences of other countries especially rich in minerals.
Justin Lin, a chief economist of the World Bank says that “Mongolia shall have good legal fundament that can adjust its economy into the increase and decrease of commodity price in the world market.
The Mongolian economy is quite dependent to the mining industry and it is vulnerable with the commodity price surge. In the time of great turbulence in the world financial market, the Mongolian economy is going through structural change.
It is very wise timing for Mongolia to organize such a conference when mineral price is decreasing in the world market, inflation is soaring and world financial crisis is deepening.
MP S.Oyun, Ch.Khurelbaatar, O.Chuluunbat, Z.Enkhbold, Mr. S.Batsukh, the President of Mongol Bank, Doctor Profeesor Khashchuluun, Director of the School of Economy, NUM, well known columnist Baabar and many other local and foreign delegates attended the conference.
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