AmCham Daily Newswire

August 2, 2016

S P O N S O R

Government

J. Batsuuri – “Tuition fees will remain the same”

Summary: The newly elected Minister of Education, Culture, Science and Sports J. Batsuuri announced that college and university tuition fees will remain the same for the 2016-2017 academic year. The Minister revealed that his focus will be on developing a systematic method for developing character among students. He also highlighted the importance of improving the educational system in rural areas.

Keywords: tuition fee, educational system The National Post /page 1, 2/

North East Asian Mayor Forum - 2016

Summary: The third annual North East Asian Mayor Forum 2016 will start tomorrow in Ulaanbaatar with 200 delegates from 24 countries. The Deputy Mayor of Budapest, Hungary was invited as the special guest for the event. Other notable guests include the Former President of the UN Environment Assembly, Dr. S. Oyun and the Mayor of Busan City, South Korea. The forum will be organized with the theme ‘Green Energy Solutions of the City’ and participants, led by the Capital City Governor and the Mayor of Ulaanbaatar S. Batbold, will give presentations on goals that specifically seek to measure progress toward finding solutions to environmental issues. The North East Asian Mayor Forum 2016 will last for three days and the closing ceremony will take place on August 5^th.

Keywords: government stability, election The Official Gazette /page 1, 3/

Economy

B. Lakshmi – “MNT rate will stabilize if we join the Stand-By Arrangement”

Summary: Director of Economic Policy and Competitiveness Research Center B. Lakshmi revealed that the IMF's Stand-By Arrangement (SBA) is the practical solution to stabilizing the MNT rate at the moment. With the negative outlook for the mining industry, a low foreign currency reserve, decreased foreign direct investment, and no ideal product for export, she insists that the SBA is the most comprehensive solution to the current situation. Additionally, B. Lakshmi noted the importance of financial liberalization for the financial market to move away from the heavy dependence on the banking sector.

Keywords: currency rate, monetary policy Daily News /page 4/

S P O N S O R

ONLINE STORIES

Mongolia is low on foreign currency reserve

Summary: The Bank of Mongolia reported that total foreign currency reserves are 1.4 billion USD, which is equivalent to four months of Mongolian import expenditures. According to the international standard, the Central Banks minimum foreign currency levels must be equivalent to three months of Mongolian import expenditures.

Keywords: currency rate, monetary policy www.montsame.mn

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