## Mongolia: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Mongolia

_IMF Staff Country Reports, June 16, 2020_

## Source details

**Canonical URL:** [Mongolia: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Mongolia](https://www.imf.org/en/publications/cr/issues/2020/06/16/mongolia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49520)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/06/16/mongolia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49520/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/06/16/mongolia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49520/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/06/16/mongolia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49520/bundle-manifest.json)

## Bibliographic details
- Published: June 16, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513547893.002

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### Context and purpose
- Publication date: June 16, 2020
- This paper discusses Mongolia’s Request for Purchase Under the Rapid Financing Instrument (RFI).
- The coronavirus disease 2019 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent budget and balance of payments needs.

### Measures taken by Mongolian authorities
- Recent revisions to the budget allow for higher health and social spending.
- Tax relief measures for affected households and businesses.
- The Bank of Mongolia has eased monetary and financial policies to help prevent a disorderly contraction in bank lending to the private sector.

### Role of IMF RFI and financing implications
- Emergency financing under the IMF’s RFI will provide much needed support to respond to the urgent balance of payments and budgetary needs.
- Additional assistance from development partners will be required to support the authorities’ efforts and close the financing gap.

### Governance and transparency
- The authorities’ commitment to high standards of transparency and governance in the management of financial assistance is welcome.

### Subjects and keywords
- Subject: Capital spending, COVID-19, Expenditure, Exports, Fiscal policy, Fiscal stance, Health, Health care spending, International trade, Public debt, Revenue administration
- Keywords: authority, Capital spending, containment measure, COVID-19, CR, Exports, financing, financing gap, Fiscal stance, fund support, Global, ISCR, Mongolia's request, Mongolian authorities, support

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1mngea2020001.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1mngea2020001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/06/16/mongolia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49520_