Mongolia Raises Rates to Record High of 15%

Mongolia's Central Bank raised the interest rate to an all-time high of 15% to stabilize the economy and increase the yield of the national currency, the Tucker. The market is reacting to this decision, as the currency has lost value. Despite positive economic indicators like a trade surplus, the Central Bank emphasizes the need for new policies. The government also announced salary cuts for state-owned enterprise executives to prevent default.

What is the Central Bank's plan to stabilize Mongolia's economy?

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What measures did Mongolia's government announce for executives and management level staff?

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