{ "title": "Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of His Visit to Mongolia", "publication": "IMF News, October 4, 2024", "sourceUrl": "https://www.imf.org/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit", "canonical": "https://www.imf.org/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit", "overlayPath": "/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/index.md", "summary": "Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today in Ulaanbaatar at the end of his visit to Mongolia.", "publishDate": "2024-10-04", "sections": [ { "heading": "Visit context and metadata", "content": "- Press Release No. 24/358\n- Date: October 4, 2024\n- Issued by: IMF Communications Department, MEDIA RELATIONS\n- PRESS OFFICER: Pemba Sherpa\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org" }, { "heading": "Main messages and IMF commitment", "content": "- Expressed gratitude to Prime Minister Oyun-Erdene, State Great Khural Speaker Amarbayasgalan, Deputy Prime Minister Dorjkhand, Finance Minister Javkhlan, and other senior officials, including from the Bank of Mongolia (BOM), for warm hospitality and a highly informative visit.\n- Reiterated the IMF's unwavering commitment to supporting Mongolia through policy advice, capacity development, and lending when needed.\n- Looked forward to continuing a productive partnership with Mongolia in the years ahead." }, { "heading": "Assessment of Mongolia’s recent economic performance", "content": "- Described Mongolia’s recent economic expansion as commendable.\n- Noted government stewardship helped Mongolia navigate recent global shocks.\n- Reported that the country’s large external debt has been refinanced and reduced.\n- Stated that the BOM has succeeded in lowering inflation and building its foreign exchange reserves." }, { "heading": "Policy priorities supported by the IMF", "content": "- Supported the government’s high priority on continued macroeconomic stability as vital for future prosperity.\n- Emphasized the critical importance of building buffers through:\n - Sound fiscal and monetary policy\n - Strong fiscal institutions\n - An independent Bank of Mongolia (BOM)" }, { "heading": "Structural reform and development strategy", "content": "- Summarized the government’s strategy to address economic risks by:\n - Diversifying the economy\n - Expanding the private sector\n - Boosting workforce skills and innovation\n- Welcomed Vision 2050, highlighting:\n - Emphasis on reducing corruption and strengthening governance\n - Focus on sustainable development and carbon emissions reduction\n - Efforts to address income inequality through investments in healthcare and education\n- Identified the successful implementation of the new Sovereign Wealth Fund law as an important opportunity to create lasting prosperity for all." }, { "heading": "Investment and implementation focus", "content": "- Discussed Mongolia’s vision for transformative development through:\n - Effective prioritization of large investments\n - Sound implementation to boost productivity and sustainable economic growth\n\nStatement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of His Visit to Mongolia — Press Release No. 24/358, October 4, 2024.\n\n---\n\n\n References\n\n- Kenji Okamura\n- Mongolia and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit" } ], "bullets": [ "[Markdown version](/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/index.md)", "[Structured JSON version](/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/index.json)", "[Bundle manifest](/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/bundle-manifest.json)", "Published: October 4, 2024", "Press Release No. 24/358", "Date: October 4, 2024", "Issued by: IMF Communications Department, MEDIA RELATIONS", "PRESS OFFICER: Pemba Sherpa", "Phone: +1 202 623-7100", "Email: MEDIA@IMF.org", "Expressed gratitude to Prime Minister Oyun-Erdene, State Great Khural Speaker Amarbayasgalan, Deputy Prime Minister Dorjkhand, Finance Minister Javkhlan, and other senior officials, including from the Bank of Mongolia (BOM), for warm hospitality and a highly informative visit.", "Reiterated the IMF's unwavering commitment to supporting Mongolia through policy advice, capacity development, and lending when needed.", "Looked forward to continuing a productive partnership with Mongolia in the years ahead.", "Described Mongolia’s recent economic expansion as commendable.", "Noted government stewardship helped Mongolia navigate recent global shocks.", "Reported that the country’s large external debt has been refinanced and reduced.", "Stated that the BOM has succeeded in lowering inflation and building its foreign exchange reserves.", "Supported the government’s high priority on continued macroeconomic stability as vital for future prosperity.", "Emphasized the critical importance of building buffers through:", "Summarized the government’s strategy to address economic risks by:", "Welcomed Vision 2050, highlighting:", "Identified the successful implementation of the new Sovereign Wealth Fund law as an important opportunity to create lasting prosperity for all.", "Discussed Mongolia’s vision for transformative development through:", "[Kenji Okamura](https://www.imf.org/en/About/senior-officials/Bios/kenji-okamura)", "[Mongolia and the IMF](http://www.imf.org/external/country/MNG/index.htm)", "[Press Releases](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/index.md", "json": "/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/index.json", "bundleManifest": "/en/news/articles/2024/10/04/pr-24358-mongolia-statement-by-dmd-kenji-okamura-at-conclusion-of-visit/bundle-manifest.json" }, "generatedAtUtc": "2026-09-26T03:19:18.762Z" }