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President of Mongolia meets IMF delegation
Central Asia | politics | 14:58, 03 August 2017 | 1658

AKIPRESS.COM - Koshy Mathai, Head of IMF staff team briefed the President on the agreement between the IMF and Mongolia, expressing his view that it is impractical to calm down even though the economy is recovering, Montsame reported.

President Kh.Battulga inquired if the IMF conducted an economic assessment on Mongolia. He also said that he doesn’t see the increase of budget revenue following the rise of coal price on global markets as an achievement for Mongolia. “Increase of raw material price is a temporary phenomenon”, he said, expressing concerns over the IMF’s stance on this matter.

He continued, “Mongolia’s child benefit isn’t welfare, but a policy to increase its population”. He also addressed the use of livestock as credit collateral in Mongolia, an issue the IMF is against, and said, “Livestock is the main resource Mongolians own”.

The sides exchanged views on diversification of Mongolia’s economy and export of value added goods.

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