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PARLIAMENT APPROVES MNT 320BN BOND

10/01/2015  |  economy
Parliament on 19 December voted in favor of issuing a MNT 320 billion in bond. Proceeds will be used to pay a loan of USD 115 million to Oyu Tolgoi that was used to finance the Human Development Fund. Source: Undesnii Shuudan ...
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WORLD BANK URGES MONGOLIA TO BOOST RESILIENCE OF SLOWING ECONOMY

10/01/2015  |  economy
Vulnerabilities in the Mongolian economy demand actions to bolster its resilience, according to the World Bank’s latest Mongolia Economic Update. Economic growth slowed in 2014 as high inflation and a persistent current account deficit weighed on domestic demand. Inflation eased recently as the economy ...
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MONGOL BANK: FX AUCTIONS, CURRENCY SWAPS, 1-WEEK BILLS, T-BILLS

10/01/2015  |  economy
The Bank of Mongolia on 8 January reported that it had sold USD 66 million and CNY 123.9 at auction to commercial banks for closing exchange rates of MNT 1,917 and MNT 307.45, respectively. Also that day, the central bank accepted USD 5 million from commercial bank swap agreement bid offers and USD 15 million ...
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MONGOLIA EMBRACES STANDARD GAUGE RAILWAY TO LOWER TRANSPORT COSTS

03/11/2014  |  economy
Parliament on 24 October adopted for the first time a rail gauge compatible with China, to ease transport of its second-biggest export, coal, to its largest customer. Mongolia’s 1,900-kilometer (1,200 mile) rail network was built with help from the Soviet Union in the last century, as Mongolia looked we ...
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MONGOLIA TO EXPORT 5,000 TONS OF MEAT TO RUSSIA BY END OF 2015

03/11/2014  |  economy
Prime Minister Norov Altankhuyag plans to expand the export quota for meat over 16-fold in the coming years. The visit by Russian President Vladmir Putin in September resulted in an agreement to purchase meat from Mongolia for the first time since placing a ban on Mongolian meats because of spreading animal d ...
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MONGOLIA TO SELL MNT 100 BILLION IN ADDITIONAL TREASURY BILLS

03/11/2014  |  economy
The Financial Regulatory Committee on 21 October 2014 approved the trade of MNT 100 billion in treasury bonds, according to a 23 October statement from the Mongolian Stock Exchange. Treasury bonds valued at MNT 100,000 each have already been sold weekly. The government offers the short-term bonds tax free, wi ...
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MONGOL BANK: FX AUCTIONS, SWAP AGREEMENTS, 1 AND 4-WEEK BILLS, TREASURY BILLS

03/11/2014  |  economy
The Bank of Mongolia on 30 October reported the sale of USD 14 million CNY 81 million in currency auctions for closing rates of MNT 1,861.59 and MNT 304.40, respectively. Also that day, the central bank accepted USD 116 million from commercial banks' ask offers via a U.S. dollar swap agreement and USD 9 milli ...
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