Mongolia’s foreign reserve reaches all-time high

Mongolia’s foreign exchanges reserves have exceeded USD 4 billion, according to the Bank of Mongolia (BoM). This is due to an increase in foreign trade revenue and an influx of International Monetary Fund (IMF) financial aid. Foreign trade revenue reached USD 1.5 billion in the Jan-Nov period of 2019.

The IMF has transferred USD 200 million to the Government of Mongolia within the Extended Fund Facility Programme. As a result, the BoM reserves have reached their highest level in their history.