Mongolia: Second Post-Program Monitoring Discussions

International Monetary Fund

No 2012/052, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents the second postprogram monitoring discussions on Mongolia’s economic developments. The Mongolian economy is undergoing a rapid expansion underpinned by strong commodity prices. Macroeconomic policies have been too expansionary, and the economy is overheating. A steady erosion of fiscal discipline, set against a backdrop of heightened global economic risks, has raised the risk of macroeconomic instability. There is an urgent need to reorient policies to contain overheating and strengthen the economy’s ability to endure deterioration in the global environment.

Keywords: ISCR; CR; rate hike; rate; hike; budget amendment; monetary policy tightening; inflation pressure; IMF staff projection; PFM legal and regulatory frameworks; Bank supervision; Inflation; Budget planning and preparation; Financial statistics; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 39
Date: 2012-03-07
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