Minister of Justice of Mongolia receives IMF delegation
AKIPRESS.COM – Minister of Justice and Internal Affairs Temuulen Ganzorig received a delegation led by IMF Mission Chief and Deputy Division Chief of the Asia and Pacific Department Tahsin Saadi Sedik on September 30, Montsame reported.
The two sides exchanged views on the impact of the current global economic situation on Mongolia, inflation, fiscal stability, foreign exchange reserves and potential economic risks. Minister Temuulen noted his ongoing work to draft amendments to the Law on Budget.
Chief Tahsin Saadi stated that inflation and fiscal policy in Mongolia are the primary focus of their meetings. He expressed concern that increasing salaries and operating expenses risks heightening inflationary pressures, warning that raising salaries again to mitigate the impact of inflation could create conditions that drive prices up even further.
Furthermore, the IMF representative noted that the criteria for the next mutual evaluation of the anti-money laundering and combating the financing of terrorism (AML/CFT) system have changed. He explained that future evaluations will assess the effectiveness of implementation alongside legislative regulations, emphasizing the need for relevant institutions to prioritize preparation and coordination, according to the Ministry of Justice and Internal Affairs.
