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Economy

Mongolia signs agreement with IMF on $5.5bn aid package

Long-awaited loans come through despite worries about their effectiveness

Mongolian Minister of Finance Choijilsuren Battogtokh, center, and Neil Saker, right, IMF country representative, greet each other at a news conference on May 25 in Ulaanbaatar. (Photo by Odbayar Urkhensuren)

ULAANBAATAR/LONDON The International Monetary Fund has approved a much-needed $5.5 billion aid package for Mongolia, but experts question whether the government will be able to implement painful structural reforms to put the economy back on track.

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