Mongolia’s external debt totals 29.7 bln USD

Xinhua News Agency | Sep 17, 2019 at 12:22 PM

ULAN BATOR, Sept. 17 (Xinhua) -- Mongolia's external debt has amounted to nearly 30 billion U.S. dollars, more than twice the country's gross domestic product.

"Our country's external debt stood at 29.7 billion U.S. dollars at the end of the first half of this year," Atarbaatar Enkhjin, head of the Reserve Management and Financial Markets Department at the Bank of Mongolia, said on Tuesday.

During a conference organized by the Bank of Mongolia, economists and scholars across the country discussed ways to develop optimal strategies to manage external debt and increase foreign currency reserves.

Mongolia's GDP was worth 13 billion dollars in 2018, according to the World Bank data.