Mongolia: Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement
March 30, 2011
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To help economic adjustment in the midst of the global economic crisis, an 18-month Stand-By Arrangement (SBA) was supported by IMF resources. The cause of Mongolia’s crisis in 2008–09 and its resolution and design and outcomes of the program are also discussed. The trigger for Mongolia’s crisis was the collapse in the prices of its commodity exports—copper in particular. The program was concluded, having averted a full-blown crisis, and laid the foundation for further strengthening of the macroeconomic and financial policy framework.
Subject: Banking, Commercial banks, Expenditure, Financial institutions, Fiscal policy, International reserves, Metal prices, PFM legal and regulatory frameworks, Prices, Public financial management (PFM)
Keywords: banking system, budget deficit, central bank, Commercial banks, commodity price, core expertise, CR, expenditure, financing, financing gap, financing need, foreign exchange, fund resource, fund staff, Global, government, ISCR, Metal prices, net present value, PFM legal and regulatory frameworks, price, real GDP
Pages:
24
Volume:
2011
DOI:
Issue:
077
Series:
Country Report No. 2011/077
Stock No:
1MNGEA2011002
ISBN:
9781455230129
ISSN:
1934-7685
