Mongolia's economic conditions stabilized by 2023H2, helped by China's reopening. The economy was in a challenging position in 2022 with widening external and internal imbalances due to multiple global shocks, policy excesses and governance lapses. However, greater exchange rate (ER)...

KEY ISSUES Overview. Mongolia has made impressive progress in developing its economy over the past decade. Medium-term prospects remain promising given Mongolia’s large natural resource endowment, but macroeconomic policies have become unsustainably loose. The resulting balance of payments...

This 2015 Article IV Consultation highlights that Mongolia’s medium- to long-term prospects are promising given its large natural resources. In the near term, however, the country continues to face balance-of-payments (BOP) pressures on account of low foreign direct investment and weak...