Mongolia: First and Second Reviews Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Performance Criteria, Extension of Arrangement and Rephasing of Purchases
IMF Staff Country Reports, September 26, 2003
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- Mongolia: First and Second Reviews Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Performance Criteria, Extension of Arrangement and Rephasing of Purchases
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Bibliographic details
- Published: September 26, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451826852.002
Key findings and assessment
- Mongolia has performed commendably under the Poverty Reduction Growth Facility arrangements.
- Executive Directors commended:
- the prudent macroeconomic policies,
- low inflation,
- reduction in vulnerability.
- Directors stressed the need to:
- strengthen the fiscal position,
- improve economic governance,
- pursue prudent monetary and external debt management policies,
- maintain an open trade and investment regime.
- Directors agreed that Mongolia's Economic Growth Support and Poverty Reduction Strategy (EGSPRS) provides a sound basis for IMF’s concessional financial assistance, and approved further finance assistance.
Policy recommendations and conditionalities
- Strengthen the fiscal position.
- Improve economic governance.
- Pursue prudent monetary management.
- Pursue prudent external debt management policies.
- Maintain an open trade and investment regime.
Program context and instruments
- Program: Poverty Reduction Growth Facility (PRGF) concessional financial assistance.
- Assessment basis: Economic Growth Support and Poverty Reduction Strategy (EGSPRS).