Cash-Strapped, Call IMF, or China?

[艹艹艹]

Mongolian FM to visit China
2017-02-17 16:48 | Xinhua | Editor: Li Yan​

Mongolian Foreign Minister Tsend Munkh-Orgil is to pay an official visit to China from Feb. 19 to 21, at the invitation of his Chinese counterpart.

Foreign Ministry spokesman Geng Shuang said Friday that Munkh-Orgil would hold talks with his Chinese counterpart Wang Yi on cementing mutual trust, deepening cooperation and expanding people-to-people exchanges.

Geng said that Munkh-Orgil would also meet with Chinese leaders.

"China hopes the two countries can consolidate the political foundation of bilateral ties, push forward exchanges and cooperation, so as to promote the development of the China-Mongolia relationship," Geng said.

http://www.ecns.cn/2017/02-17/245856.shtml

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The consequences of undermining the principle of One-China policy.

Cash-strapped Mongolia is now selling jewelry and horses to pay debt
http://www.standard.net/World/2017/...is-now-selling-jewelry-and-horses-to-pay-debt

 

[艹艹艹]

http://gbtimes.com/world/china-imf-bail-out-mongolia
China, IMF to bail out Mongolia
GBTIMES BEIJING
2017/02/20​

China has joined IMF, ADB and World Bank in rescue plan for Mongolia. (Photo: China News Service)
​

China's central bank has agreed on a currency swap agreement with Mongolia worth US$2.2 billion, according to a joint statement released by the International Monetary Fund (IMF) and Mongolia on Sunday.

The deal - part of a $5.5 billion bailout - will last for three years, and can be extended upon agreement on both sides, Huanqiu News reported.

Based on the agreement, Mongolia can trade in its own currency with China at a pre-determined exchange rate, a move it is believed could help the East Asian nation increase its foreign exchange reserves and strengthen the Tugrik.

Economic growth in Mongolia slowed to around one percent last year due to a fall in commodity prices and a slowing economy in China, though the IMF has estimated that the bailout should see economic growth hit eight percent by 2019, SCMP reports.

It marks the sixth time since 1990 that the IMF has bailed out the country.

In addition to China's financial support, the IMF will provide a loan of $440 million, while Asian Development Bank (ADB), World Bank, Japan and South Korea are also planning a "rescue package" of $3 billion.

Mongolian Foreign Minister Tsend Munkh-Orgil is to pay an official visit to China from Feb. 19 to 21

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BEIJING, Jan 24 (Reuters) - China said on Tuesday it hopes Mongolia has learned a lesson and will keep a promise not to invite the Tibetan spiritual leader the Dalai Lama again after his visit in November led to a chill in relations.

"Mongolia firmly supports the one China policy, consistently holds that Tibet is an in separable part of China, that the Tibet issue is China's internal affair," the Mongolian minister was quoted as saying.

Mongolia has been working to boost economic ties with its powerful southern neighbour and use Chinese investment and know- how in mining and infrastructure projects.

 

[TaiShang]

http://gbtimes.com/world/china-imf-bail-out-mongolia
China, IMF to bail out Mongolia
GBTIMES BEIJING
2017/02/20


China has joined IMF, ADB and World Bank in rescue plan for Mongolia. (Photo: China News Service)
​

China's central bank has agreed on a currency swap agreement with Mongolia worth US$2.2 billion, according to a joint statement released by the International Monetary Fund (IMF) and Mongolia on Sunday.

The deal - part of a $5.5 billion bailout - will last for three years, and can be extended upon agreement on both sides, Huanqiu News reported.

Based on the agreement, Mongolia can trade in its own currency with China at a pre-determined exchange rate, a move it is believed could help the East Asian nation increase its foreign exchange reserves and strengthen the Tugrik.

Economic growth in Mongolia slowed to around one percent last year due to a fall in commodity prices and a slowing economy in China, though the IMF has estimated that the bailout should see economic growth hit eight percent by 2019, SCMP reports.

It marks the sixth time since 1990 that the IMF has bailed out the country.

In addition to China's financial support, the IMF will provide a loan of $440 million, while Asian Development Bank (ADB), World Bank, Japan and South Korea are also planning a "rescue package" of $3 billion.

Mongolian Foreign Minister Tsend Munkh-Orgil is to pay an official visit to China from Feb. 19 to 21

Mongolia is an AIIB member state.

Maybe they should receive infrastructure assistance from the Bank; so far, most of the funding went to Central Asia and SEA.

If a country needs investment in NEA, that would be Mongolia.

Better not to ignore China's integral part (under the ROC constitution, LOL).

 

[艹艹艹]

Better not to ignore China's integral part (under the ROC constitution, LOL).

right，

 

[ahojunk]

China's central bank has agreed on a currency swap agreement with Mongolia worth US$2.2 billion, according to a joint statement released by the International Monetary Fund (IMF) and Mongolia on Sunday.

The deal - part of a $5.5 billion bailout - will last for three years, and can be extended upon agreement on both sides,...

China is contributing US$2.2 billion out of $5.5 billion, that is 40%. This percentage means that China will have a say, i.e Mongolia won't be subjected to IMF's dictates exclusively.

From China's perspective, it's good that your neighbor is financially stable.

 

[Sanchez]

How about the $1 billion loan from Indian Modiji？

 

[NakedLunch]

I thought India was bailing Mongolia out? Was that surgical money?

 

[lonelyman]

How about the $1 billion loan from Indian Modiji？

Lip service always, what do u expect from 2012 supa powa? They don't have money even for their own 50% population for sanitation or food, what dough can they seriously offer?

 

[kankan326]

From China's perspective, it's good that your neighbor is financially stable.

I wonder what bad it would do to China if Mongolia is not financially stable. Mongolia is a super anti-China country. Let it down.

 

[Jlaw]

China is contributing US$2.2 billion out of $5.5 billion, that is 40%. This percentage means that China will have a say, i.e Mongolia won't be subjected to IMF's dictates exclusively.

From China's perspective, it's good that your neighbor is financially stable.

5.5 billion is such a small amount not sure why IMF need to be involved. A Korean coworker who worked as senior manager at a Korean bank told me during Asian financial crisis, borrowing from IMF should be a last resort as the interests plus concessions made by IMF was absurd.

I wonder what bad it would do to China if Mongolia is not financially stable. Mongolia is a super anti-China country. Let it down.

True, and let the people decide if they want to be part of China.

 

[艹艹艹]

How about the $1 billion loan from Indian Modiji？

The Indians have not fulfilled their promises

 

[TaiShang]

I wonder what bad it would do to China if Mongolia is not financially stable. Mongolia is a super anti-China country. Let it down.

I guess winning the wallets of people is of more strategic importance than winning their hearts.

 

[oprih]

I think it's logical for Mongolia to just join and be part of the much more secure and prosperous China, there are more Mongolians living in China than in Mongolia itself anyway.

 

[Kiss_of_the_Dragon]

I guess winning the wallets of people is of more strategic importance than winning their hearts.

We only need to win our Inner Mongolian brothers and sisters' hearts, we should make profit out of Outer Mongolians' wallets with let said 10% interest for loan and credit. Not to be nationalistic or selfish but I only care the well being of our Inner Mongolians, now let's enjoy a nice song & dance from our Mongolians sisters.

 

[Place Of Space]

China is contributing US$2.2 billion out of $5.5 billion, that is 40%. This percentage means that China will have a say, i.e Mongolia won't be subjected to IMF's dictates exclusively.

From China's perspective, it's good that your neighbor is financially stable.

Mongolia is a huge blackhole, hardly being assured this neighbor is financially stable. You know, this nation has only 3 million population, more than 1.5 million square meters land. Even if they are as lazy as sloth, they could still lead a very good living. But they don't.