PO BAG 1: Ulaanbaatar

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19 February 2017

IMF agrees terms for $5 billion loan to debt-ridden Mongolia

Bayartsaikhan Nadmid, Governor of the Bank of Mongolia, left, listens as Choijilsuren Battogtokh, Mongolia's Minister of Finance, right, speaks at a press conference in Ulaanbaatar, Mongolia, Sunday, Feb. 19, 2017. The Mongolian government and envoys from the International Monetary Fund said Sunday that they and other partners have agreed on terms for a more than $5 billion loan package to the north Asian country to help get its economy back on track.

The Mongolian government and envoys from the International Monetary Fund said Sunday that they and other partners have agreed on terms for a more than $5 billion loan package to the north Asian country to help get its economy back on track.

The deal is subject to approval by the IMF's executive board, which is expected to consider Mongolia's request in March.