At its regular meeting, the Monetary Policy Committee (MPC) of the Central Bank of Mongolia decided to maintain the policy interest rate at 10 percent and increase the minimum reserve requirement in both domestic and foreign currency by 1 percentage point, reaching 11 percent and 16 percent respectively. Annual inflation rose to 8.1 percent nationwide in […]
Read MoreMongol nomad migration and its associated practices have been added to the Representative List of the Intangible Cultural Heritage of Humanity of the United Nations Educational, Scientific and Cultural Organization (UNESCO). At the 19th Session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, held on 2-6 December 2024, in Asuncion, the capital city […]
Read MorePrime Minister of Mongolia Oyun-Erdene Luvsannamsrai met with Crown Prince and Prime Minister of the Kingdom of Bahrain Salman bin Hamad bin Isa Al Khalifa, to express Mongolia’s interest in intensifying its relations and cooperation with Bahrain, a country with a unique culture and history, as part of its foreign policy focus on strengthening ties […]
Read MoreOn December 5, 2024, during his working visit to the United Arab Emirates, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai paid a courtesy call on Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates. At the meeting, the two sides discussed a wide range of issues related to expanding and developing Mongolia-UAE relations […]
Read MoreIn November 2024, the Central Bank of Mongolia purchased 1,689.5 kg of precious metals, bringing the total amount to 15.8 tons since the beginning of the year. This figure represents a 1.6 percent decrease compared to the same period last year. Since the beginning of the year, the Darkhan-Uul branch of the Central Bank of […]
Read MoreThe Asian Development Bank (ADB) and APU Dairy LLC have signed a $20 million (equivalent in Mongolian togrog) loan to support nomadic herders by integrating them into the dairy value chain, enhancing dairy processing capacity, and promoting sustainable herd management practices. The project will boost Mongolia’s dairy supply and strengthen its food security through domestic […]
Read MoreThe Government of Mongolia and the Asian Development Bank (ADB) are jointly implementing new projects to increase renewable energy sources in the western region of Mongolia. Specifically, energy storage stations have been constructed and commissioned to connect solar and wind power plants with a total capacity of 40.5 MW to the Altai-Uliastai energy system. Moreover, […]
Read MoreAs of November 25, 2024, the official foreign exchange reserves of Mongolia exceeded USD 4.9 billion, an increase of USD 38.8 million or 0.8 percent compared to the beginning of this year. This is the amount that satisfies the country’s foreign exchange-paid import needs for 5.1 months, according to the Bank of Mongolia. The increase in foreign exchange reserves was mainly due to the improvement in the USD flow into Mongolia, including export […]
Read MoreOn November 22, 2024, Minister of Family, Labor, and Social Protection of Mongolia Enkh-Amgalan Luvsantseren met with Andrea Rossi, UNICEF Social Policy Advisor for Southeast Asia, to discuss ways of further strengthening child protection and social policies in Mongolia. At the meeting, Social Policy Advisor Andrea Rossi made a presentation “Fostering Social Participation and Livelihoods of Children in Mongolia: […]
Read MoreUnder the auspices of the President of Mongolia, the Mongolian Sustainable Finance Forum-2024 will be held in Ulaanbaatar on November 27- 29, 2024. The forum will bring together representatives from various fields engaged in green development including policymakers, regulation authorities, private businesses, and civil society to openly discuss their actions for green sustainable development, the […]
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