Re: Mongolia
Someone approached me on their behalf looking for advice. They a=e apparently in financial trouble, squeezed by China etc.
No idea if I can or want to help them but wondered whether they are in=good or bad or I suspect neutral graces of USA.
Thx
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The following is a summary of where we are.=. .
Mongolia is certainly not in bad graces with us -- it's an example of democ=acy in the region and has had made military contributions in Afghanistan. =CC has selected Mongolia for a second compact, and USTR is working on a bi=ateral Transparency Agreement. We have had regular engagement with them on macroeconomic issues.
Mongolia's economic outlook over the medium-term is favorable due to =bundant natural resources, but it is highly vulnerable to commodity price =olatility--particularly for copper—and they have had trouble =eveloping an investment environment for FOI.
The IMF recently concluded that Mongolia is at high risk of debt distress. =ongolia might already have had a Fund program but for significant short-te=m borrowing from its swap line with the PBOC. As things stand, however, Mo=golia is not pursuing a Fund program.
The authorities have reached a deal with Rio Tinto on the underground porti=n of the Oyu Tolgoi copper mine. But until that money flows, Mongolia will=need macro tightening and better financial sector oversight.
At any rate, if you end up helping them out, I'm sure they'll be well-serve= by your advice.
Best regards,
Nathan
I'm good to go.
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great. only half facetiously, what=if mongoloia offered a true digital currency to replace bitcoin.&nbs=; as a soverign they could do it
Doesn't pay the bills.
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