## Mongolia: Staff Report for the Third Review Under the Extended Fund Facility — Press Release; Staff Report; and Statement by the Executive Director for Mongolia

_IMF Staff Country Reports, April 4, 2018_

## Source details

**Canonical URL:** [Mongolia: Staff Report for the Third Review 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/2018/04/04/mongolia-staff-report-for-the-third-review-under-the-extended-fund-facility-press-release-45783)

## Other formats

- [Markdown version](/en/publications/cr/issues/2018/04/04/mongolia-staff-report-for-the-third-review-under-the-extended-fund-facility-press-release-45783/index.md)
- [Structured JSON version](/en/publications/cr/issues/2018/04/04/mongolia-staff-report-for-the-third-review-under-the-extended-fund-facility-press-release-45783/index.json)
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## Bibliographic details
- Published: April 4, 2018
- Series: IMF Staff Country Reports

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### Program performance and overall assessment
- Mongolia’s performance under the Extended Fund Facility program thus far has been strong.
- The authorities over-performed on all end-December 2017 quantitative targets.
- Performance on structural reforms has been mixed:
  - Some delays on structural benchmarks under the program.
  - Reversals of three fiscal measures considered during previous reviews.
- Given strong performance to date, continued improvement in the macro outlook, and still high public debt, the authorities committed to tightening the fiscal and reserve targets.

### Macroeconomic outcomes and outlook
- Real GDP growth of 5.1 percent in 2017.
- The economy is recovering better than expected.
- The combination of strong policy implementation and a supportive external environment contributed to the outturn.

### Fiscal policy, public debt, and reserves
- Authorities committed to tightening fiscal targets.
- Authorities committed to tightening reserve targets.
- Public debt remains characterized as still high (no numeric value provided in source text).

### Structural reforms and implementation issues
- Mixed record on structural reforms:
  - Some structural benchmarks experienced delays.
  - Three fiscal measures that had been considered during previous reviews were reversed.

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2018/cr1898.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2018/cr1898.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2018/04/04/mongolia-staff-report-for-the-third-review-under-the-extended-fund-facility-press-release-45783_