Mongolia hopes for a ratings upgrade

Choijilsuren Battogtokh, head of Mongolia's budget committee, explains why better than expected economic data and a restructuring of the banking sector are improving the country’s credit metrics.

The Government of Mongolia hopes international rating agencies will acknowledge the steps it is taking to structurally overhaul the economy with further upgrades to its B3B-B- rating this year.

The country’s finances have certainly come back from the brink over the past 12 months. The government started 2017 facing a looming sovereign bond default, but ended it with two successful liability management exercises to its name, plus a FinanceAsia accolade as Borrower of the Year.

But if 2017 was the year when events forced the recently-elected Mongolian People’s Party to adopt difficult measures, then 2018 will the one, which shows whether it...

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