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.
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