politics/page/2

 After several rough years, Mongolia looks set to return to fiscal health. Supported by higher commodity prices and the initiation of the fiscal consolidation program set out in the IMF bailout package, investor confidence is returning. Fitch’s recent decision to upgrade its outlook for Long-Term Foreign-Currency Issuer Default Rating to ‘B’ indicates that Ulaanbaatar is in an increasingly strong position to meet its obligations to overseas creditors.

Xi Jinping has declared war on pollution, and he means it. Thirty years of heavy industrialisation has made the environment a hugely salient political issue. Despite being chastised as one of the worst environmental offenders, China is quietly undergoing a green revolution.

In Mongolia, change is afoot. Natural resources offer rapid development - but only if the country manages them wisely. This depends heavily on how Ulaanbaatar interacts with its international partners.

Speculation has been rife as to where the reclusive North Korean dictator, Kim Jong Un, and the US President, Donald J Trump will meet. Geneva? Too far. Singapore? Too Western. Beijing? Too sensitive. Ultimately, it’s too early to call, but Ulaanbaatar has been revealed by a South Korean diplomat to have made the short list. 

..and how Trump’s North Korea policy is helping drive Mongolian growth

The last months of 2016, were characterized by concern, both at home and abroad, as to whether Mongolia could convince the International Monetary Fund (IMF) and other stakeholders, to offer financial assistance. The country let off a collective sigh of relief in February 2017, when a staff-level agreement was reached. Hard work and flexibility on both sides, had enabled a successful conclusion to a complex, multifaceted negotiation.