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Economic gods may be smiling again at Mongolia

Despite debt downgrade, IMF-led bailout looks realistic as commodities bottom out

The new government in Ulaanbaatar may have to agree to IMF bailout terms sooner rather than later.   © Getty Images

TOKYO -- The international financial community's confidence in the Mongolian government's capability in delivering reforms and debt services seems to be ameliorating after a long slump. That was an impression left by an investment-promotion conference held in Tokyo last week, attended by representatives of foreign lenders and investors as well as officials at the country's central bank and legislature.

The timing of the conference, hosted by Frontier Securities, a Japanese-run Ulaanbaatar-based investment bank, seemed to be as bad as it could be.

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