Mongolia’s hangover needs more than IMF medicine

August 19, 2016

The nomad state hiked interest rates to 15 pct to defend a plunging currency. An IMF rescue seems likely, and the new government has shown it is willing to take the pain needed. Longer-term, the real cure for its economic ills will be to woo nervous foreign investors back.

Mongolia’s task: avoid Nigerian resource curse

July 5, 2012

The country, which held elections last week, is growing at a blistering rate on the back of its Oyu Tolgoi mine. Nigeria shows what can go wrong when government and private fingers get sticky - the bonanza is wasted and non-resource activity is burdened and disincentivized.

Public investors lose in Mongol mining battle

August 10, 2012

The nomad state seems set on sinking Chinese state firm Chalco’s bid for coal miner SouthGobi. Wild as Mongolia is, a compromise is conceivable. All sides could come away with something, except for investors who bought SouthGobi shares when they were double their current value.

Mongolia’s economic fairytale faces reality check

July 31, 2013

The failure of its fifth-largest bank and delays to the development of a giant copper mine underscores the vulnerable foundations of the country’s boom. Weakness in emerging markets, and commodities, provide further tests. Yet greater economic realism may ultimately be welcome.