MP Z.NARANTUYA MEETS WORLD BANK REPRESENTATIVES

Ulaanbaatar /MONTSAME/ MP Z.Narantuya met yesterday with World Bank representatives headed by Jason Allford, Executive Director of the World Bank Group representing Mongolia and some other countries. The delegates presented outcomes of the Extended Fund Facility program which is being co-implemented by financial organizations such as the World Bank, the International Monetary Fund (IMF) and the International Finance Corporation. They noted that budget deficit decrease and economic growth higher than expected were due to macro-economic stability which resulted from increase in coal export and foreign investment. Although financial supports from the World Bank and the IMF and the program are bringing positive results in fulfilling short term goals or decreasing budget deficit, improving condition of balance of payment and stabilizing budget and financial condition, MP Z.Narantuya requested the World Bank and the IMF to attach more attention on defining long and mid-term policies that targeted to maintain stable economic growth in future. She also asked the delegates to counsel to the Government to take policy actions targeted to reducing poverty and inequality of income of social classes and to cooperate with the Government in realizing new rural development policies and strategies in furture. Present the meeting were Varik Vait, advisor to the Executive Director, James Anderson, World Bank Country Manager for Mongolia and Tuyen D.Nguyen, IFC Resident Representative in Mongolia. B.Batchimeg