Cabinet approves Debt Management strategy draft

Ulaanbaatar /MONTSAME/ The cabinet at its Monday’s regular meeting supported parliamentary draft resolutions on adopting the Master Budget Framework Statement for 2016, a bill on Budget Assumption for 2017-2018 and the Document on Mongolia’s medium-term strategy on debt management, and resolved to submit them to parliament. All decisions of the Government regarding debt must satisfy the terms of the latter document, because the medium-term strategy on the debt management will determine the policy objectives of the Government and local administrations concerning debt and issuance of government bonds. The strategic document has been developed on the instruments prepared by the World Bank and the International Monetary Fund. It analyzes the expenses and risks in the Government’s debt package on the basis of medium and long term macroeconomic assumptions. The analyses’ results are used to designate the composition of the Government debt package, debt criteria, and to direct the credit procurements.