State great khural is taking place today in the parliament house. MP Mr. Otgonbayar asked the Mining Minister regarding the negative economic outlook and ratings of the country from rating agencies. The Mining Minister stated that international investors agreed to stop spreading and feeding negative news and messages through its’ associated PR companies and media channels.
The Economic Development Minister Mr. Batbayar added that the ratings have flaws. Governments in developed countries also questioned the validity of the ratings by the major agencies after the 2008 financial crisis. He mentioned that these updated ratings that rated Mongolia as negative BB-, is questionable, especially at the time when the PM’s resignation is under discussion.
S&P revised Mongolia sovereign credit outlook down to negative from stable; current rating is BB-.