Mongolia: First Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Mongolia
August 17, 2009
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This paper discusses key findings of the First Review Under the Stand-By Arrangement for Mongolia. The paper reveals that economic activity in Mongolia is slowing and inflation is falling, broadly in line with what was anticipated at the time the program was approved. The authorities’ strong policy implementation is working to stabilize the economy. The biweekly foreign exchange auctions are also working well, and the authorities remain committed to allowing exchange rate flexibility in line with market conditions.
Subject: Banking, Central banks, Commercial banks, Credit, Exchange rates, Financial institutions, Foreign exchange, International reserves, Monetary base, Money
Keywords: authorities stance, authority, Commercial banks, CR, Credit, credit condition, Exchange rates, Global, International reserves, ISCR, master agreement, Monetary base, Mongolian authorities, private sector credit condition, tightening measure
Pages:
37
Volume:
2009
DOI:
Issue:
254
Series:
Country Report No. 2009/254
Stock No:
1MNGEA2009002
ISBN:
9781451826999
ISSN:
1934-7685
