{
  "title": "Mongolia: 2017 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility-Press Release: Staff Report; and Statement by the Executive Director for Mongolia",
  "publication": "IMF Staff Country Reports, May 31, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954",
  "overlayPath": "/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954/index.md",
  "summary": "This 2017 Article IV Consultation highlights Mongolia’s promising longer-term prospects given its abundant natural resources.",
  "publishDate": "2017-05-31",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and outlook",
      "content": "- Highlights Mongolia’s promising longer-term prospects given its abundant natural resources.\n- In recent years, the economy has faced substantial challenges, as external shocks and expansionary fiscal and monetary policies have compounded structural weaknesses.\n- Mongolia remains heavily exposed to external shocks, given its export profile.\n- A key challenge will be to avoid the boom-bust cycles of the past.\n- Discussions with authorities have focused on:\n  - improving the fiscal framework and strengthening policy discipline;\n  - complementing these with structural reforms to boost diversification and competitiveness; and\n  - efforts to strengthen and better target the social safety net."
    },
    {
      "heading": "Major findings and vulnerabilities",
      "content": "- External shocks and expansionary fiscal and monetary policies have compounded structural weaknesses.\n- Heavy exposure to external shocks is driven by Mongolia’s export profile.\n- Risk of repeating past boom-bust cycles is a central concern for macroeconomic stability."
    },
    {
      "heading": "Policy recommendations and reform priorities",
      "content": "- Improve the fiscal framework.\n- Strengthen policy discipline (fiscal and monetary).\n- Pursue structural reforms to:\n  - boost diversification; and\n  - enhance competitiveness.\n- Strengthen and better target the social safety net."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Banking\n- Economic and financial statistics\n- Environment\n- External debt\n- External sector statistics\n- Government debt management\n- Non-renewable resources\n- Public debt\n- Revenue administration"
    },
    {
      "heading": "Keywords (as listed)",
      "content": "- Asia and Pacific\n- CR\n- debt service\n- expansionary fiscal policy\n- External sector statistics\n- FDI foreign-exchange transaction\n- financing\n- General government debt data\n- Global\n- government\n- ISCR\n- Mongolia\n- mortgage spending\n- Non-renewable resources\n- U.S. dollar\n\nSource: Mongolia: 2017 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility-Press Release: Staff Report; and Statement by the Executive Director for Mongolia\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954"
    }
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    "Published: May 31, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484302354.002",
    "Highlights Mongolia’s promising longer-term prospects given its abundant natural resources.",
    "In recent years, the economy has faced substantial challenges, as external shocks and expansionary fiscal and monetary policies have compounded structural weaknesses.",
    "Mongolia remains heavily exposed to external shocks, given its export profile.",
    "A key challenge will be to avoid the boom-bust cycles of the past.",
    "Discussions with authorities have focused on:",
    "External shocks and expansionary fiscal and monetary policies have compounded structural weaknesses.",
    "Heavy exposure to external shocks is driven by Mongolia’s export profile.",
    "Risk of repeating past boom-bust cycles is a central concern for macroeconomic stability.",
    "Improve the fiscal framework.",
    "Strengthen policy discipline (fiscal and monetary).",
    "Pursue structural reforms to:",
    "Strengthen and better target the social safety net.",
    "Banking",
    "Economic and financial statistics",
    "Environment",
    "External debt",
    "External sector statistics",
    "Government debt management",
    "Non-renewable resources",
    "Public debt",
    "Revenue administration",
    "Asia and Pacific",
    "CR",
    "debt service",
    "expansionary fiscal policy",
    "External sector statistics",
    "FDI foreign-exchange transaction",
    "financing",
    "General government debt data",
    "Global",
    "government",
    "ISCR",
    "Mongolia",
    "mortgage spending",
    "Non-renewable resources",
    "U.S. dollar",
    "**Country Report**"
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