## Mongolia: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria

_IMF Staff Country Reports, November 5, 2009_

## Source details

**Canonical URL:** [Mongolia: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria](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)

## Other formats

- [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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## Bibliographic details
- Authors: Arrangement, Request
- Published: November 5, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451827002.002

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### Key findings
- 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 and structural benchmarks
- 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.

### Foreign exchange arrangements and market functioning
- 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.

### Thematic coverage and subjects
- 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.

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## Content in this bundle

- **1.   Oyu Tolgoi Mining Project**
  - [1.   Oyu Tolgoi Mining Project (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2009/_cr09311.pdf.md){rel="alternate" type="text/markdown"}
  - [1.   Oyu Tolgoi Mining Project (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2009/_cr09311.pdf){rel="external" type="application/pdf"}

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_Source: 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_