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DAILY NEWS WIRE

September 7, 2021
President U. Khurelsukh: Taking advantage of geographical location and becoming ‘Transit Mongolia’
President of Mongolia U. Khurelsukh participated in the Eastern Economic Forum online and addressed the need to speed up the renovation of the country’s railway transit corridors, which are included in the Mongolia-Russia-China Economic Corridor program. "We need to speed up economically efficient, strategic infrastructure projects, such as the construction of a highway connecting the three countries," he said.
Container terminal built at Gashuunsukhait Port 
A container terminal was built at Gashuunsukhait Port in Umnugovi Province by Energy Resources LLC. Short-term coal transportation between the two countries is expected to increase with the commissioning of the terminal, as exports are projected to increase by 10 million tons per year. State and local government revenue from taxes and fees are also expected to increase. 

The Century News /page 2/
Government of Mongolia’s external debt reached 8.44 billion USD in Q2 2021
The Government of Mongolia refinanced a portion of the Chinggis and Gerege bonds due in December 2022 and 2023, respectively, and issued the one billion USD Century bond. The Ministry of Finance announced that it will be replacing high-yield bonds with low-yield bonds to postpone repayment. The Century bonds will be repaid in two installments, in 2027 and 2031. 
By the end of 2020, the share of government debt in GDP was 62.3 percent, which the government plans to lower to 44.1 percent this year and to 39.1 percent in 2022.   
The Bank of Mongolia purchased 1.9 tons of precious metals in August
The Bank of Mongolia purchased 1.9 tons of precious metals in August 2021, bringing purchases so far to a total of 12.9 tons of precious metals in 2021. The purchase quantity declined by 1.8 tons compared to the same period in 2020. The central bank’s average purchase price for one gram of gold in August 2021 was 163,323.50 MNT. 
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