{"id":15183,"date":"2023-01-12T14:30:00","date_gmt":"2023-01-12T14:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3985162_AE85162_0"},"modified":"2023-01-12T14:30:00","modified_gmt":"2023-01-12T14:30:00","slug":"government-of-mongolia-mongolia-becomes-the-first-single-b-rated-issuer-from-asia-pacific-to-successfully-enter-the-international-debt-markets-in-2023","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=15183","title":{"rendered":"GOVERNMENT OF MONGOLIA: MONGOLIA BECOMES THE FIRST SINGLE-B RATED ISSUER FROM ASIA-PACIFIC TO SUCCESSFULLY ENTER THE INTERNATIONAL DEBT MARKETS IN 2023"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/en.prnasia.com\/prnasia.com-PC\/images\/logo-en-blue-in.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul type=\"disc\">\n<li>Country&#8217;s budget deficit reduced by 60%<\/li>\n<li>Bond issue four times oversubscribed<\/li>\n<\/ul>\n<p>ULAANBAATAR, <span class=\"xn-location\">Mongolia<\/span>, <span class=\"xn-chron\">Jan. 12, 2023<\/span> \/PRNewswire\/ &#8212; <span class=\"xn-location\">Mongolia&#8217;s<\/span> flagship <i>New Recovery Policy<\/i> has ensured that the country has eliminated the risk of a default, the country&#8217;s Minister of Finance has announced.<\/p>\n<p>In a press briefing, B. Javklan said that due to the implementation of the country&#8217;s <i>New Recovery Policy<\/i>, the budget deficit had decreased by 60%, exports had increased and economic growth was measured at 4% at the end of 2022, higher than its neighbouring countries and returning to pre-pandemic levels.<\/p>\n<p>This has come on the back of the debt regulation measures implemented in 2020 and 2021, which allowed the country to pay off its Chinggis Bond debt of <span class=\"xn-money\">USD$136.6m<\/span> in <span class=\"xn-chron\">December 2022<\/span>. The Development Bank of <span class=\"xn-location\">Mongolia<\/span> also intensified its repayment of loans, ensuring that the financial status of the state budget will present no barrier to the repayment of the Samurai bond on time.<\/p>\n<p>Commenting, the Finance Minister said: &#8220;the economic outlook for 2023 is positive [and so] foreign investors trust our government and our foreign debt management. In these difficult times, when the global economy is adversely affected by the Covid-19 pandemic, inflation is rising sharply worldwide, the conflict between <span class=\"xn-location\">Russia<\/span> and <span class=\"xn-location\">Ukraine<\/span> and <span class=\"xn-location\">China&#8217;s<\/span> zero-Covid policy are complicating the situation, <span class=\"xn-location\">Mongolia&#8217;s<\/span> credit rating has a &#8216;stable outlook'&#8221;.<\/p>\n<p>The economic figures demonstrate that despite the global slowdown in trade during the Covid-19 pandemic, the coal-rich country steadily boosted its exports globally, including coal exports to <span class=\"xn-location\">China<\/span>, its closest neighbour and its largest target market. International exports are expected to increase by between 10-15% in 2023 as additional border ports are opened up.<\/p>\n<p>The country now aims to create a diversified, sustainable economy to ensure that <span class=\"xn-location\">Mongolia<\/span> is shielded from the external shocks that have affected it over the past few years. A heavy focus on agriculture, tourism and renewable energy, through the implementation of the <i>New Recovery Policy<\/i>, is expected to further boost the country&#8217;s economic growth further between 2023 and 2030. <span class=\"xn-money\">117m<\/span> hectares of land have been allocated for agricultural purposes, presenting a substantial number of growth opportunities in the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Country&#8217;s budget deficit reduced by 60% Bond issue four times oversubscribed ULAANBAATAR, Mongolia, Jan. 12, 2023 \/PRNewswire\/ &#8212; Mongolia&#8217;s flagship New Recovery Policy has ensured that the country has eliminated the risk of a default, the country&#8217;s Minister of Finance has announced. In a press briefing, B. Javklan said that due to the implementation of [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-15183","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GOVERNMENT OF MONGOLIA: MONGOLIA BECOMES THE FIRST SINGLE-B RATED ISSUER FROM ASIA-PACIFIC TO SUCCESSFULLY ENTER THE INTERNATIONAL DEBT MARKETS IN 2023 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=15183\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GOVERNMENT OF MONGOLIA: MONGOLIA BECOMES THE FIRST SINGLE-B RATED ISSUER FROM ASIA-PACIFIC TO SUCCESSFULLY ENTER THE INTERNATIONAL DEBT MARKETS IN 2023 - My Blog\" \/>\n<meta property=\"og:description\" content=\"Country&#8217;s budget deficit reduced by 60% Bond issue four times oversubscribed ULAANBAATAR, Mongolia, Jan. 12, 2023 \/PRNewswire\/ &#8212; Mongolia&#8217;s flagship New Recovery Policy has ensured that the country has eliminated the risk of a default, the country&#8217;s Minister of Finance has announced. In a press briefing, B. 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