Mongolia: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 030

Publication date: January 2007

ISBN: 9781451826920

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , expenditure reform , debt , debt ratio , central bank , authority , commodity price cycle , budget expenditure reform , Mongolian authorities , mineral wealth , terms-of-trade shock , commodity price development , Mining sector , Budget planning and preparation , Monetary base

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Summary

This 2006 Article IV Consultation highlights that Mongolia’s macroeconomic performance in 2005–06 has been robust, underpinned by a run-up on copper and gold prices, declining inflation, and budget and external current account surpluses. Real GDP growth in 2005–06 is estimated at 7 percent, in line with the average pace since 2002. The mineral sector has been a key engine of growth, supported by favorable weather conditions, and buoyant recovery in the construction and services sectors. Mongolia’s medium-term outlook for sustained growth and poverty reduction is broadly favorable, but subject to risks.