Mongolia receives $36.91 mln IMF loan

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Mongolian flag flies on the top of parliament building in Ulaanbaatar, Mongolia, June 29, 2016. REUTERS/Jason Lee

ULAN BATOR (Xinhua) – Mongolia has received the fourth tranche of funding from the International Monetary Fund (IMF), worth $36.91 million. With the tranche, Mongolia will be able to increase its currency reserves, the Bank of Mongolia said. The tranche is a part of a three-year IMF extended funding facility (EFF) totalling about $434.3 million. Approved in 2017, it is part of 5.5-billion-dollar funding from donor countries and international financial organisations, including Japan, South Korea and the World Bank, to stabilise the economy and lay the basis for sustainable and inclusive growth.

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