BONDS OF USD 350 MILLION TO BE TRADED

Ulaanbaatar /MONTSAME/ In accordance with a governmental resolution, governmental bonds converted into Chinese Yuan (CNY) which is equivalent to USD 350 million will be traded at the international market with a term of 3.5 years. In conjunction with this, an irregular cabinet meeting on Thursday authorized J.Erdenebat, the Minister of Finance, to make agreements and sign them, representing the government of Mongolia, on agent, on securities order, on fixing stock prices, on settlement agent appointment and on issuing of bonds after upgrading the middle-term program of bonds. The governmental bonds of Chinese Yuan will be sold on the best time of international market and taking into account of budgetary needs in frames of goals of settling the debt pressure over the budget and of extending the payment terms of governmental package debt, which are reflected in the 2016-2018 strategic document on government debt management. This measure aims to finance the budget deficit, to regulate the debt of domestic bonds and to support the payment balance.