N.Zoljargal is appointed as the President of Mongolbank

Mr. N.Zoljargal is nominated as the President of Mongolbank and his appointment is approved by 80% (total 55 MPs attended and 44 MPs are for and 11 are against) of vote. MPs made comments on inflation rate and loan interest rate should be under 10%. Mr. N.Zoljargal replied that inflation rate was so high for long ago fueling loan interest rate, and it has to be tamed. Next year “Budget Stability Law” will be implemented, and the Government program says that it will keep inflation rate under 10%. Therefore, inflation rate will be decreased in next two years and loan interest will be kept under 10%, also.

Current President L.Purevdorj has resigned on voluntary base, regarding appointment of N.Zoljargal.

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