Mongolia

EBRD expects 30% GDP contraction in Ukraine in 2022, lowers emerging Europe projections

Clare Nuttall in Marrakesh May 10, 2022

The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.

Mongolia’s inflation headache goes from bad to worse as thirst for scarce dollars mounts

Antonio Graceffo May 6, 2022

FX reserves fall by $1.2bn in few months—yet small, developing nation must pay for imports in USD.

Hapless Mongolia struggles with a shortage of dollars

Antonio Graceffo in Ulaanbaatar May 3, 2022

Caught between ‘zero-Covid’ China on one side and war-sanctioned Russia on the other, the Mongolians face mounting difficulties.

COMMENT: Russia poised to exploit Mongolia on Soyuz–Vostok pipeline

Munkhnaran Bayarlkhagva in Ulaanbaatar April 24, 2022

Moscow is working to secure Mongolia as a junior partner for a new strategically important natural gas pipeline to China.

Mongolian youth mount protest against ‘unliveable economy’

Anand Tumurtogoo in Ulaanbaatar April 11, 2022

Country sinking into dire straits with combination of Ukraine war impacts and China’s “zero-Covid” policy driving up energy and food costs.

bneGREEN: Wind and solar growth must accelerate to keep pace with demand for power

Richard Lockhart in Edinburgh April 1, 2022

Wind and solar accounted for a record 10.3% of global electricity consumption in 2021, after solar generation rose by 23% and wind grew by 14%.

EBRD slashes 2022 growth forecasts but only nations embroiled in war to enter recession

Clare Nuttall in Glasgow March 31, 2022

Ukraine's economy forecast to contract by 20% and projections worsen across emerging Europe — except for Eurasian oil and gas producers Azerbaijan and Turkmenistan.

Mongolia's central bank circles wagons around reserves as Ukraine crisis puts economy to the test

Anand Tumurtogoo in Ulaanbaatar March 23, 2022

Bank customers complain access to FX restricted. Rumours abound of people swapping huge sums of rubles for USD.

Mongolia goes ahead with Soyuz/Vostok pipeline signing with Russia despite Ukraine outcry

bne IntelliNews February 28, 2022

Mongolian deputy PM and Gazprom chair Alexey Miller hold online meeting for next stage of project to transit Russian gas to China.

Mongolia tiptoes around Russian aggression toward Ukraine

bne IntelliNews February 25, 2022

Mongolian officials unlikely to state opposition to Ukraine invasion, given Kremlin's stranglehold on gasoline provision. Mongolia imports 98% of automobile fuel from Russia.

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