| 19.08.2016 - Mongolia lifts rates to halt currency slide |
| Public spending cuts ordered after tugrik tumbles to record low against dollar. Mongolia raised interest rates to 15 per cent from 10.5 per cent and froze some public spending on Thursday after the tugrik hit a record low against the US dollar following 23 days of weakening. The mining-dependent economy has been one of the worst hit by the global commodities downturn following a debt and construction bubble during the boom years...............................................Full Article: Source |