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Daily NEWSWIRE
August 5, 2016
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Government

Another challenge for the MPP

Summary: This week, most of the Vice Ministers have been appointed and several State Secretaries and Heads of government agencies have been replaced. It is obvious that the appointments will continue in the coming days. As a result of elections, it has become a practice of widespread hiring and firing in the civil service ranging from the head of a government agency to the dean of a remote soum. Accusations of massive replacements in the civil service have been made throughout the last four years. Today, now that the MPP has taken the overwhelming majority, the opposition is closely monitoring to see if there will be some sort of revenge with another wave of replacements in the civil service. One of the pending policy actions is to review a legal framework for the civil service to ensure the long-term sustainability of the civil service regardless of the outcomes of the elections.

Keywords: government stability    Unuudur, /pages 1,2/


MP N. Enkhbold – “Government should focus on stabilization of the exchange rate”

Summary: Chairman of the Parliament Standing Committee on State Structure MP N. Enkhbold provided his perspectives on the latest political, legislative and economic developments. In terms of the expectations from the government, he noted that there is the common international practice of assessing the government’s actions in the first 100 days. Therefore, the government needs to be given time. The economic situation is far worse than it was expected, therefore; the state needs to take speedy actions to stabilize the economy. It is certain that 2017, 2018 and 2022 will be milestones for significant repayment of bonds. The government needs to decide whether they will be able to mobilize financing with favorable terms or if they need to implement a rigid program with the IMF. One of the immediate priorities is to regain investors’ confidence. 

Keywords: economic policy, government stability   Daily News /pages 2,5/


MP Tsogtbaatar met with AmCham members   

Summary: The American Chamber of Commerce in Mongolia hosted its July Monthly Meeting with H.E. D. Tsogtbaatar for his first public appearance as a newly elected Member of Parliament and the first formal engagement between the Mongolian People’s Party and the private sector since the election. The Honorable Jennifer Zimdahl Galt, U.S. Ambassador to Mongolia also attended the meeting as a guest of honor. D. Tsogtbaatar, said during his keynote remarks, “Consistency in ‪policy and rule of ‪‎law is very important and the new ‪‎government will do everything to ensure these.” Ambassador Jennifer Galt noted, “AmCham Mongolia has been remarkably effective in identifying ‪‎challenges and advocating on behalf of its members and the business sector with the‪ government and ‪public.”

Keywords: government policy, business envvironment   Century News /page 5/


ECONOMY

Mortgage program to be continued

Summary: Since his appointment, the Prime Minister of Mongolia J. Erdenebat has issued several critical decisions. The Government decided to continue the mortgage program, seeking more affordable and accessible schemes. The Ministry of Construction and Urban Development is assigned to assess the feasibility of housing loans with 5% annual interest rates requiring a 10% down payment. The Prime Minister also assigned the Minister of Justice and Home Affairs to monitor the outgoing flow of cash to ensure the legitimacy of the source. The Prime Minister emphasized the need to aggressively seek investments rather than relying on foreign aid.

Keywords: economic policy    The Official Gazette /page 2/


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Economy: what is the solution?

Summary: The Cabinet, led by Prime Minister Erdenebat will face the task of addressing the economic and fiscal challenges. Experts and analysts shared their own perspectives. The former Prime Minister Enkhsaikhan said that, “Participation in the IMF Standby program a year ago could have saved 100 million USD and the IMF program has dual benefits of repaying loans and attracting additional financing.” Other experts, including B. Lakshmi, director of EPCRC and economist Dashzeveg said that, “The Government needs to realistically assess the root causes of the current economic recession and address the issues in a targeted way; one of the priorities is to stabilize the exchange rate.”

Keywords: economy, fiscal stability    http://www.news.mn/r/309711


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