{
  "title": "Mongolia: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria",
  "publication": "IMF Staff Country Reports, November 5, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/mongolia-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-23391",
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  "summary": "This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Mongolia. All end-June performance criteria for the Second Review were met. The authorities have also implemented all but two of the end-June structural benchmarks, albeit with some delay.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- All end-June performance criteria for the Second Review were met.\n- The authorities implemented all but two of the end-June structural benchmarks, albeit with some delay.\n- The creation of a screen-based system for interbank foreign exchange transactions has not been completed.\n- The foreign exchange auction system established under the program is working well.\n- The authorities’ strong policy implementation under the program is working to stabilize market conditions and lower inflation."
    },
    {
      "heading": "Performance criteria and structural benchmarks",
      "content": "- Performance criteria: All end-June performance criteria met.\n- Structural benchmarks: All but two end-June structural benchmarks implemented; two benchmarks remain incomplete.\n- Implementation timing: Some structural benchmarks were implemented with delay."
    },
    {
      "heading": "Foreign exchange arrangements and market functioning",
      "content": "- Interbank FX transactions: Screen-based system for interbank foreign exchange transactions not completed.\n- FX auction system: Foreign exchange auction system established under the program is functioning well.\n- Market effects: Program policies are contributing to market stabilization and lower inflation."
    },
    {
      "heading": "Thematic coverage and subjects",
      "content": "- Subjects listed: Banking, Central Banks, Commercial banks, Credit, Exchange rates, External debt, Financial institutions, Foreign exchange, International reserves, Money.\n- Keywords included: banking system stability, Commercial banks, CR, Credit, Exchange rates, foreign currency, fund program, Global, government, International reserves, ISCR, market condition, Mongolian authority, robust banking system, U.S. dollar.\n\n---\n\n Content in this bundle\n\n- 1.   Oyu Tolgoi Mining Project\n  - 1.   Oyu Tolgoi Mining Project (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1.   Oyu Tolgoi Mining Project (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/mongolia-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-23391/index.md)",
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    "Authors: Arrangement, Request",
    "Published: November 5, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451827002.002",
    "All end-June performance criteria for the Second Review were met.",
    "The authorities implemented all but two of the end-June structural benchmarks, albeit with some delay.",
    "The creation of a screen-based system for interbank foreign exchange transactions has not been completed.",
    "The foreign exchange auction system established under the program is working well.",
    "The authorities’ strong policy implementation under the program is working to stabilize market conditions and lower inflation.",
    "Performance criteria: All end-June performance criteria met.",
    "Structural benchmarks: All but two end-June structural benchmarks implemented; two benchmarks remain incomplete.",
    "Implementation timing: Some structural benchmarks were implemented with delay.",
    "Interbank FX transactions: Screen-based system for interbank foreign exchange transactions not completed.",
    "FX auction system: Foreign exchange auction system established under the program is functioning well.",
    "Market effects: Program policies are contributing to market stabilization and lower inflation.",
    "Subjects listed: Banking, Central Banks, Commercial banks, Credit, Exchange rates, External debt, Financial institutions, Foreign exchange, International reserves, Money.",
    "Keywords included: banking system stability, Commercial banks, CR, Credit, Exchange rates, foreign currency, fund program, Global, government, International reserves, ISCR, market condition, Mongolian authority, robust banking system, U.S. dollar.",
    "**1.   Oyu Tolgoi Mining Project**"
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