02352cas a2200241 a 4500 AALejournalIMF015930 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513514161 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Asia and Pacific Dept. Mongolia : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mongolia. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (75 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2019 Article IV Consultation with Mongolia discusses that economy growth accelerated to 8.6 percent in the first quarter of 2019, over fiscal balance turned into surplus in 2018, and gross international reserves have increased by USD 2 1/2 billion since 2016. The recovery stems from a stronger policy framework, significant official financing and a rebound in external demand. Notwithstanding the progress, Mongolia remains vulnerable to external shocks given its high debt levels and the economy's dependence on mineral exports. Structural reforms progressed in several key areas: the budget process is more resilient to political pressure and quasi-fiscal activities were curtailed. In order to achieve sustainable and inclusive growth, it is necessary to advance the current reform efforts by strengthening the rule-based fiscal policy framework, ensuring financial sector soundness and improving governance. Risks are tilted toward the downside in the near term. Shocks to mineral demand can lead to sharp fall in exports, weakening growth outlook and fiscal accounts. A slowdown in growth could trigger financial instability given still inadequate capital buffers at some banks and overindebted households. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/297 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/297/002.2019.issue-297-en.xml IMF e-Library