AKIPRESS.COM - The International Monetary Fund team is expected in Mongolia on January 25.

During the team's working visit to Ulaanbaatar, the Mongolian Government plans discuss highly criticized tax increase, Montsame state news agency reported.

On Dec. 15, the IMF Executive Board completed the first and second reviews of Mongolia's performance under the Extended Fund Facility program and decided to allocate 79.1 million dollars from a 5.5 billion bailout fund to relieve Mongolia's debt burden and stabilize the local currency.

In May, the IMF approved a three-year extended arrangement under Extended Fund Facility for Mongolia in a total amount of about 434.3 million dollars to support the country's economic reform program.

The IMF has raised its 2017 growth projection for Mongolia to 3.3 percent from 2 percent.