{
  "title": "Mongolia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mongolia",
  "publication": "IMF Staff Country Reports, November 29, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/11/29/mongolia-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-510086",
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  "summary": "A strong export-led recovery is underway. Despite early actions and a successful vaccination campaign, the pandemic is lingering in Mongolia as positivity rates remain high and borders largely closed.",
  "sections": [
    {
      "heading": "Summary findings and macroeconomic outlook",
      "content": "- A strong export-led recovery is underway.\n- The export-led recovery began in mid-2020 and is gathering steam due to booming prices for Mongolia’s exports.\n- Despite early actions and a successful vaccination campaign, the pandemic is lingering in Mongolia as positivity rates remain high and borders largely closed.\n- Domestic demand, labor markets and the business sector remain weak.\n- Policies were appropriately supportive during the pandemic."
    },
    {
      "heading": "Fiscal, quasi-fiscal, and financial developments and vulnerabilities",
      "content": "- Large, untargeted and continuing fiscal, quasi-fiscal and financial forbearance measures legislated by Parliament have heightened macrofinancial vulnerabilities.\n- Public debt has sharply increased.\n- Bank balance sheets have further weakened.\n- The Bank of Mongolia’s (BOM) operational independence has been compromised."
    },
    {
      "heading": "External position and buffers",
      "content": "- External and fiscal buffers have been built.\n- The 2021 IMF SDR allocation of US$98.3 million (95.8 percent of quota) contributed to building buffers.\n- The rollover of large external liabilities has increased policy space."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Pages: 115\n- Volume: 2021\n- Issue: 251\n- Series: Country Report No. 2021/251\n- DOI: https://doi.org/10.5089/9781616355937.002\n- Stock No: 1MNGEA2021001\n- ISBN: 9781616355937\n- ISSN: 1934-7685\n- Publication date shown: November 29, 2021\n- Subjects: COVID-19, Economic and financial statistics, Exports, External sector statistics, Fiscal policy, Health, International organization, International trade, Monetary policy, Public debt\n- Keywords: banking sector ownership, banking sector reform, Central Asia, COVID-19, Exports, External sector statistics, General government debt data, Global, IMF SDR allocation, policy support\n\nInternational Monetary Fund. Mongolia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mongolia, IMF Staff Country Reports 2021, 251 (2021).\n\n---\n\n Content in this bundle\n\n- 1mngea2021001\n  - 1mngea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1mngea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 29, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781616355937.002",
    "A strong export-led recovery is underway.",
    "The export-led recovery began in mid-2020 and is gathering steam due to booming prices for Mongolia’s exports.",
    "Despite early actions and a successful vaccination campaign, the pandemic is lingering in Mongolia as positivity rates remain high and borders largely closed.",
    "Domestic demand, labor markets and the business sector remain weak.",
    "Policies were appropriately supportive during the pandemic.",
    "Large, untargeted and continuing fiscal, quasi-fiscal and financial forbearance measures legislated by Parliament have heightened macrofinancial vulnerabilities.",
    "Bank balance sheets have further weakened.",
    "The Bank of Mongolia’s (BOM) operational independence has been compromised.",
    "External and fiscal buffers have been built.",
    "The 2021 IMF SDR allocation of US$98.3 million (95.8 percent of quota) contributed to building buffers.",
    "The rollover of large external liabilities has increased policy space.",
    "Pages: 115",
    "Volume: 2021",
    "Issue: 251",
    "Series: Country Report No. 2021/251",
    "DOI: https://doi.org/10.5089/9781616355937.002",
    "Stock No: 1MNGEA2021001",
    "ISBN: 9781616355937",
    "ISSN: 1934-7685",
    "Publication date shown: November 29, 2021",
    "Subjects: COVID-19, Economic and financial statistics, Exports, External sector statistics, Fiscal policy, Health, International organization, International trade, Monetary policy, Public debt",
    "Keywords: banking sector ownership, banking sector reform, Central Asia, COVID-19, Exports, External sector statistics, General government debt data, Global, IMF SDR allocation, policy support",
    "**1mngea2021001**"
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