May 25, 2017 11:35 am JST

IMF approves $434.3 million to support Mongolia economic reform

BEIJING (Reuters) -- The International Monetary Fund (IMF) said on Thursday it approved a three-year financial arrangement of about $434.3 million to support Mongolia's economic reform programme.

The IMF said in a statement that Mongolia was hit hard by the sharp decline of commodity prices and the slowdown in key export markets, and the government is therefore implementing a programme to pave the way to economic recovery.

It said the total financing package for Mongolia, with other financial partners such as the Asian Development Bank, amounts to about $5.5 billion.

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.