## 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

_IMF Staff Country Reports, May 31, 2017_

## Source details

**Canonical URL:** [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](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/05/31/mongolia-2017-article-iv-consultation-and-request-for-an-extended-arrangement-under-the-44954/index.json)
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## Bibliographic details
- Published: May 31, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484302354.002

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### Executive summary and outlook
- 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:
  - improving the fiscal framework and strengthening policy discipline;
  - complementing these with structural reforms to boost diversification and competitiveness; and
  - efforts to strengthen and better target the social safety net.

### Major findings and vulnerabilities
- 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.

### Policy recommendations and reform priorities
- Improve the fiscal framework.
- Strengthen policy discipline (fiscal and monetary).
- Pursue structural reforms to:
  - boost diversification; and
  - enhance competitiveness.
- Strengthen and better target the social safety net.

### Thematic coverage (as listed)
- Banking
- Economic and financial statistics
- Environment
- External debt
- External sector statistics
- Government debt management
- Non-renewable resources
- Public debt
- Revenue administration

### Keywords (as listed)
- 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

*Source: 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*

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17140.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17140.pdf){rel="external" type="application/pdf"}

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_Source: 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_