▲ Up
22:55 25-03-2019
АКИpress CA-News Tazabek Turmush
Mongolia's foreign debt rises to over $7 bln
Central Asia | business | 14:22, 27 December 2018 | 1261

AKIPRESS.COM - Mongolia's total foreign debt reached $7.24 billion in the third quarter, up 12 percent from the same period last year, the country's central bank said.

As of the third quarter, foreign debt accounted for about 60 percent of the country's gross domestic product (GDP), according to the central bank.

"We have many challenges ahead. In particular, the government is due to pay back 5.4 billion U.S. dollars in total in 2021-2022," said Bayartsaikhan Nadmid, president of the Bank of Mongolia, Xinhua reports.

"So, we need to pay special attention to increase foreign currency reserves," he said.

Mongolia's foreign currency reserves reached 3.4 billion dollars at the end of the third quarter, a new high since 2013, he added.

The mineral-rich country has a population of 3.2 million and an economy of 12 billion dollars.

The country's economy is heavily dependent on the mining industry that contributes to about a quarter of the country's GDP and around 90 percent of its exports.

17:20 Water volume in Toktogul reservoir decreased by 786mln cubic meters in a year17:10 Trade turnover of Kyrgyzstan and Italy in 2018 was $18 mln16:44 British adventurer completed a 160-km marathon across a frozen Mongolian lake16:27 OPEC Fund for International Development approves $54 million loan for water supply project in Uzbekistan16:20 First Lady of Uzbekistan invited ex-First Lady of Kyrgyzstan to Tashkent16:19 Uzbekistan, UAE to exchange experience in public security16:10 Pilots of Russian air base in Kant organize excursion for schoolchildren15:35 Emergency regime remains in Suzak over water level increasing in Kok-Art river15:07 Issues of children's rights discussed in Bishkek15:07 EBRD supports trade in Uzbekistan15:02 The Unknown Canyons of Kyrgyzstan by photographer Albert Dros14:58 President Jeenbekov, Foreign Minister Aidarbekov discuss President Putin’s state visit to Kyrgyzstan14:55 Foreign trade turnover of Eurasian Economic Union members in January 2019 amounted to $53 billion14:47 Reports on alleged links of Deputy PM Jenish Razakov with Tajik intelligence service are false and provocative: Government14:37 Bishkek mayor, Chinese Ambassador discuss preparations for 2nd phase of road reconstructions in city14:10 Parliament Speaker checks out construction of school that started 5 years ago13:48 PM Abilgaziyev attends Camel Fest closing ceremony in Saudi Arabia13:11 Over 3 tons of garbage collected in two fishing areas of Issyk-Kul12:45 Kyrgyz judokas win 2 gold medals at international judo tournament for children in Poland12:34 President Trump 'did not conspire with Russia'
© AKIpress News Agency - 2001-2019. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06