At its monthly press briefing, the Bank of Mongolia delivered a presentation of financial statistical overview as of December 2019.
In the given period, money supply growth reached 7 percent and money supply to market increased to MNT 20.8 trillion, made up of MNT 17.9 trillion as internal net assets of the central bank and commercial banks and MNT 3 trillion as foreign net assets.
Outstanding loans at commercial banks totaled MNT 17.9 trillion, which increased by 5 percent in 2019 since the previous year. The remaining balance of loans issued was MNT 9.3 billion.
Around 22 percent of outstanding loan balance is composed of pension and salary-backed loans, 16 percent of commercial loan and 12 percent of real estate loans.
As of late 2019, balance of payments was recorded to show surplus of USD 453 million and foreign exchange reserves jumped to USD 4.35 billion.
Answering to question regarding the outcomes of the International Monetary Fund’s three-year arrangement for Mongolia under the Extended Fund Facility, B.Bayardavaa, Director General of Monetary Policy Department of the Bank of Mongolia said that several positive outcomes were generated by the program, such as public debts dropped and the economic growth has recovered.