Chinggis Bond debt repayment to start next year

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Chinggis Bond debt repayment to start next year

2015-04-27 23:29:56

Starting next year, Mongolia will begin to repay debt of 500 million USD from the Chinggis Bond. However, at the moment, it is unclear from which resources this debt will be paid.

According to state policy, as for the first three years of repayment, there is no document confirming the state’s policy in this regard.  A mid-term debt management policy document is now being drafted by the Ministry of Finance. Part of this document will be strategic policy on debt management, and the ministry says that it will contain principles for repayment and how this repayment will be coordinated.

As stated by the Ministry of Finance, a proposal containing principles on how borrowed funds should be spent, which kinds of debt should be taken, and how to repay debt will be approved by Parliament.  Upon approval of this document, the ministry believes it will become clear how Mongolia will repay its debt and from which resources debts will be paid.

Source: www.news.mn