Power to issue 220 billion MNT bond will be granted

Apr 9 • Government, News • 550 Views • No Comments on Power to issue 220 billion MNT bond will be granted

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Standing Committee on Economy has discussed the Government bond issuance. Board of Directors of IMF approved “Standby” program, equal to 153.3 million SDR, in order to support stability of the Mongolian economy. Within the framework of the program, 76.3 million US$, equal to 51.1 million SDR, was received to the Central Bank. But Mongolia received the obligation to deposit it at special currency account of the Ministry of Finance and the capital resource, equal to the amount, deposit in the stock account of IMF at Mongolbank. Therefore, the Government made request to issue the Government bond of 220 billion MNT.IMF backed bond issue is related to the budget loss, therefore it was discussed by the Standing committee on Economy. Because the Government received the right to issue 300 billion MNT bond this January, but not for the budget loss.

Majority of the Standing Committee supported the bond issuance.

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