37th CFS Plenary Session, 17-22 October 2011, Rome
The CFS is the United Nations' forum for reviewing policies concerning world food. It is the most inclusive international and intergovernmental platform for all relevant stakeholders to work together to ensure food security and nutrition.
Please visit our About section.
On March 16, 2011, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation, Post Program Monitoring, and Ex Post Evaluation (EPE) with Mongolia.1
Background
The 2011 Article IV consultation discussions took place against the backdrop of a strong economic recovery in Mongolia and signs that the economy is overheating. Inflation is already too high and the large increase in fiscal spending underway will make matters worse. Discussions focused on the policies for managing the current business cycle and for ensuring Mongolia’s vast mineral deposits lead to lasting prosperity.
Press Release No. 10/387
October 15, 2010
On the occasion of the successful completion of Mongolia's Stand-by Arrangement (SBA) with the International Monetary Fund (IMF), H.E Bayartsogt Sangajav, Minister of Finance, H.E Purevdorj Lkhanaajav, Governor of Mongolbank and Mr. Steven Barnett, the IMF’s mission chief for Mongolia, made the following joint statement:
"In the wake of the global financial crisis, the Government of Mongolia requested an SBA with the IMF in support of its efforts to overcome the economic and financial crisis in Mongolia. The Executive Board of the IMF approved an 18-month SBA on April 1, 2009 (see Press Release No. 09/110).
Press Release No. 10/332
September 9, 2010
The Executive Board of the International Monetary Fund (IMF) has completed the fifth and the sixth reviews of Mongolia's economic performance under a program supported by an 18-month Stand-By Arrangement (SBA). The Board also approved the Mongolian authorities’ request for rephasing the final disbursement. While the completion of the final two reviews under Mongolia’s SBA enables the disbursement of an amount equivalent to SDR 30.66 million (about US$46.4 million), the Mongolian authorities do not intend to draw this amount. Total disbursements under the arrangement remain an equivalent to SDR 122.64 million (about US$185.4 million).
20 May 2010 -- The Altai Mountains are home to a variety of endangered species such as the snow leopard and the world’s largest wild sheep altai argali. Inhabited mainly by nomads, these mountains - stretching from the Gobi Desert in the south to the Siberian Tundra in the north, and forming a border between Russia, Mongolia, Kazakhstan and China - hold several biodiversity hotspots mostly located in remote areas with limited access.
Press Release No. 10/99
March 19, 2010 -- The Executive Board of the International Monetary Fund (IMF) today completed the fourth review of Mongolia's economic performance under a program supported by an 18-month Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of an amount equivalent to SDR 15.33 million (about US$23.4 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 122.64 million (about US$187.4 million). The Board also approved the request for the modification of performance criteria to reflect the revised macroeconomic data and framework.
Ulaanbaatar, MONGOLIA, March 2, 2010 — Mongolia’s semi-nomadic and nomadic herders make up approximately 30 per cent of the country’s population. These hardy and proud rural dwellers make a living by herding horses, camels, goats, cattle and sheep for milk, cashmere, meat and other livestock products. Maintaining a regular income is a constant battle as the climate in this semi-arid country is prone to severe, freezing winters and extremely dry summers.
25 February 2010 – The United Nations Development Programme (UNDP) is developing a cash-for-work programme in Mongolia under which herders will earn income to clear and bury the carcasses of the over 2 million livestock that have perished nationwide amid a particularly harsh winter.
Locally known as dzud, the extreme cold and heavy snow experienced in Mongolia – with temperatures dipping as low as -50 degrees Celsius – followed a very dry and long summer and fall, during which insufficient livestock feed was produced to provide to the animals for the winter months.
The spike in food prices of last year (2008) underscored what experts have been telling us for many years: the world's food systems are in crisis