Mongolia picks reformer to lead cabinet after former PM exits in scandal www.msn.com

A former foreign minister considered a reformer will head up the new government in Mongolia following the ouster of his predecessor, who resigned earlier this month.
Zandanshatar Gombojav, a career politician, was approved on June 12 by the Great Hural (Parliament) after a full day of hearings. His predecessor, Oyun-Erdene Luvsannamsrai, left office after failing a vote of confidence.
Zandanshatar, 55, received 108 votes out of 117 cast in Parliament to become Mongolia’s 34th prime minister. This represents a turn of events from a year ago, when he even failed to win a seat in Parliament.
Julian Dierkes, a Mongolia expert at the University of Mannheim, describes Zandanshatar as a “compromise candidate” between different factions of the ruling Mongolian People’s Party (MPP). Dierkes adds that there may be questions over his mandate due to his loss in Parliament last year.
But while his recent political fortunes were less than stellar, his background offers varied experience. In addition to serving as a foreign minister, Zandanshaatar has been a speaker of parliament. A decade ago, he attended Stanford as a visiting scholar.
He takes over a government left in tatters after the breakup of the last coalition government. Last month, the MPP voted to remove the Democratic Party (DP) from the coalition after DP members called for Oyun-Erdene to step down.
Oyun-Erdene’s exit was sparked by social media posts that raised questions over the source of his family’s wealth. Posted photos led to street protests and calls for his resignation.
Zandanshatar, a former banker, takes the reins of a government that has seen significant economic improvements since the pandemic. The economy grew 6% last year, largely on the back of strong coal and copper sales to China. The World Bank is forecasting 6.3% growth this year.
But challenges lie in wait. Speaker of Parliament Amarbayasgalan Dashzegve said in an address to Parliament early on June 13 that Mongolia faces uncertainty due to unstable geopolitics and soft commodity prices.
He urged Zandanshatar to “find ways to implement mega projects without putting pressure on the economy.”
Zandanshaatar’s economic past includes some nationalist tendencies but most experts agree he has moved to the centre on his economic views.
“Today he presents himself as a reform-minded stabiliser, not a threat to foreign capital,” said Amar Adiya, a political commentator and the editor of Mongolia Weekly, a market intelligence newsletter.
“Investors should watch who he appoints to the finance, economic development and mining ministries. That will say more about his direction than his decade-old positions. His past may raise questions but his recent tone suggests continuity, not confrontation,” Amar adds.
Those sentiments could ease concerns held by Western mining companies and others doing business in Mongolia. Foreign investment has long kept a cautious eye where Mongolia is concerned amid its frequent changes in leadership and shifting rules and regulations.
Chief among those investors is Anglo-Australian mining giant Rio Tinto, which controls the giant Oyu Tolgoi copper and gold mine, the anchor of Mongolia’s economy for over a decade.
Rio, currently negotiating with the government over mining licences, will be keen to engage with the Zandanshatar to move its project forward. One likely scenario is that Zandanshatar stays the course set down by the previous administration, which favoured the development of so-called megaprojects in energy, mining and other sectors.
“I don’t expect any radical turns in policy from the Oyun-Erdene government,” said Dierkes.
By Michael Kohn

Mongolia's central bank keeps benchmark interest rate unchanged at 12 pct www.xinhuanet.com

The Mongolian central bank's monetary policy council has decided to keep the benchmark interest rate unchanged at 12 percent, the Bank of Mongolia said Saturday.
"The decision was made due to the current state of the Mongolian economy and the prospects of the external and internal environments," the central bank said in a statement.
In March, Mongolia's central bank raised its benchmark interest rate by 2 percentage points to 12 percent amid rising inflation.

Khaan Quest 2025 int'l peacekeeping exercise kicks off in Mongolia www.xinhuanet.com

The annual multinational peacekeeping exercise Khaan Quest 2025 kicked off at the Five Hills training center near the Mongolian capital on Saturday.
"At the time when the international security environment is becoming increasingly complex, uncertain, and unstable, the solidarity, collective responsibility, and peace-loving spirit of countries are more important than ever," Purevdorj Bukhchuluun, deputy chairman of the State Great Khural of Mongolia, said at the opening ceremony.
Over 1,200 military personnel from 24 countries, including Mongolia, China, Australia, Canada, Egypt, France, Germany, India, Japan and the United States, are participating in the 22nd edition of the peacekeeping exercise hosted by the Mongolian Armed Forces.
The exercise, which will last until June 28, consists of a command post exercise and a field training exercise.

Mongolia and Russia Jointly Develop E-Commerce and Logistics As Free Trade Agreement Nears www.russiaspivottoasia.com

Zandanshatar Gombojav Appointed as Prime Minister of Mongolia www.montsame.mn

At its plenary session on June 12, 2025, the State Great Khural (Parliament) of Mongolia discussed and approved the appointment of Zandanshatar Gombojav as the Prime Minister of Mongolia.
As the Mongolian People's Party, which won the majority of seats in the State Great Khural as a result of the 2024 regular parliamentary elections, nominated Zandanshatar Gombojav as the Prime Minister of Mongolia, President Khurelsukh Ukhnaa submitted the proposal to the State Great Khural according to Article 39.2 of the Constitution.
Zandanshatar Gombojav, who has worked in the fields of academic research, economics, and foreign affairs, and at the state legislative and executive levels since 1992, is considered to be capable of ensuring public trust, political leadership, and policy stability.
A total of 68 members of the State Great Khural asked questions from the nominee and received answers and 28 members expressed their positions regarding the appointment. When a vote was held, 108 MPs out of the 117 members present at the plenary session, or 92.3 percent supported the appointment of Zandanshatar Gombojav as the Prime Minister of Mongolia.
Subsequently, the Resolution on the Appointment of the Prime Minister of Mongolia was approved. The 34th newly appointed Prime Minister of Mongolia Zandanshatar Gombojav addressed the State Great Khural.
Noting the urgent need to stabilize the economy, improve the income and livelihood of the people, and address pressing issues such as sudden energy failures, Prime Minister Zandanshatar stated the main goal of the new Government will be to overcome risks and challenges and enhance national resilience at all levels.
The newly appointed Prime Minister of Mongolia stated, “Human development will be the biggest mega project of our government. The new Government will work to be a Government that places the development of Mongolians at the core of its policies and the rights of its citizens at the center of its solutions. The Government will focus on the development of competent, productive, healthy, and globally competitive Mongolians, and will intensify comprehensive reforms in health, education, and social security. It will introduce a performance-based pay policy in every sector. The Government will reform the welfare system and pursue the principle that the best welfare is employment. The Government will intensify pension reform, reduce social insurance fund losses, and transfer the management to a fair, transparent, and professional asset management system."
Zandanshatar Gombojav was born in 1970 in Baatsagaan soum, Bayankhongor aimag, and has a wife and four children. In 1987, he graduated from Secondary School No. 77 in Ulaanbaatar and studied at the Irkutsk Institute of National Economy in the Russian Federation from 1987 to 1992, earning a degree in finance and economics. He has a Master’s degree in Economics. He began his professional career as a lecturer at the University of Commerce and Industry. From 1995 to 1998, he served as an economist, department head, and division director at the Agricultural Bank. Between 1998 and 2000, he worked as the manager of the training center at the Bank of Mongolia and as the bank’s representative at the Agricultural Bank. From 2000 to 2003, he was the Deputy Director at Khan Bank, and worked as Deputy Minister of Food and Agriculture from 2003 to 2004. From 2005 to 2010, he was a member, Vice President, and later President of the Board of the Socialist Democratic Youth Union under the Mongolian People’s Party (MPP). He served as a Member of Parliament from 2004 to 2012, as Minister of Foreign Affairs from 2009 to 2012, and between 2012 and 2013, he was the Secretary General of the MPP. From 2013 to 2015, he conducted research at the Center on Democracy, Development, and the Rule of Law at Stanford University in the United States. He was re-elected to Parliament in 2016 and served until 2024. From 2017 to 2019, he was a Member of the Government and the Chief of Cabinet Secretariat of the Government of Mongolia. From 2019 to 2024, he served as Chairman of the State Great Khural. Since 2024, he has worked as the Chief of Staff of the Office of the President of Mongolia.

What Mongolia’s New Prime Minister Means for Its Democracy www.time.com

It’s either a triumph for people power or a worrying lurch towards authoritarianism, depending on whom you ask, but Mongolia has a new Prime Minister: Zandanshatar Gombojav, a Russian-educated former banker who previously served as Foreign Minister, Chief of the Cabinet Secretariat, and speaker of the State Great Khural parliament.

“I will work forward, not backward,” Zandanshatar told the State Great Khural, whose lawmakers overwhelmingly approved his elevation to the premiership by 108 out of the 117 members present. “By respecting unity, we will overcome this difficult economic situation.”

They’re economic woes that contributed to the downfall of outgoing Prime Minister Luvsannamsrain Oyun-Erdene, who belongs to the same Mongolian People’s Party (MPP) but quit after failing to receive sufficient backing in a June 3 confidence vote he called to quell popular protests demanding his ouster.

For several weeks, thousands of predominantly young demonstrators have thronged central Ulaanbaatar’s Sukhbaatar Square in outrage at the lavish displays of wealth that Oyun-Erdene’s son and fiancée posted on social media, including helicopter rides, an expensive engagement ring, a luxury car, and designer handbags.

The crowds called for Oyun-Erdene to disclose his personal finances, but he declined saying that they had already been provided to the nation’s Anti-Corruption Agency, as required by law. However, public trust in that body and the wider judiciary is scant following a slew of high-profile graft scandals coupled with a conspicuous lack of prosecutions or accountability.

“Oyun-Erdene was the one who was talking about morals, transparency, and corruption,” protest leader Unumunkh Jargalsaikhan, 27, tells TIME. “But Mongolia is actually degrading when it comes to the economy and freedoms. The corruption scandal was just the spark.”

Unumunkh blames rising living costs and torpid wages for driving public anger, especially among young people. Mongolia is facing an economic crunch with government spending rising 20% year-on-year for the first four months of 2025 but goods exports falling by 13% over the same period, owed not least to a 39% decline in coal exports. Still, Oyun-Erdene was dismissive of the protesters and in a statement instead blamed “a web of interests, tangled like a spider’s web” for toppling him.

Oyun-Erdene’s supporters say his ouster had three drivers: Firstly, and with a dash of irony, his relentless pursuit of official graft, including a draft law his cabinet just submitted that would compel all public officials to justify their income.

Secondly, last year’s updated Minerals Law, which puts 34% of the equity of “strategic” mines—defined as producing over 5% of GDP—into a Sovereign Wealth Fund. Today, nine of Mongolia’s 16 strategic deposits are privately owned by influential industrialist families. “Those private companies are very unhappy and completely opposed to 34% belonging to the state,” says Jargalsaikhan Dambadarjaa, a Mongolian broadcaster and political commentator.

The third alleged driver is more contentious: that Mongolian President Ukhnaagiin Khurelsukh deviously undermined Oyun-Erdene in order to change the constitution to boost presidential powers and extend term limits from the single, six-year stint currently permitted.

True, incoming Prime Minister Zandanshatar’s most recent posting was as chief-of-staff to Khurelsukh, who chose to give a midnight speech to the State Great Khural on the eve of Oyun-Erdene’s no-confidence vote that urged lawmakers to represent their constituents rather than a single political leader. Despite the MPP having enough lawmakers to reach the 64-vote threshold required to save Oyun-Erdene, his own party deserted him, with the secret ballot totaling just 44 votes for, 38 against.

Oyun-Erdene’s camp paints Khurelsukh as an aspiring autocrat intent on aligning Mongolia with authoritarian neighbors China and Russia, noting how he hosted Vladimir Putin in Ulaanbaatar in September, flouting an International Criminal Court arrest warrant, and also attended Moscow’s Victory Day Parade in May. A doctored photo depicting Khurelsukh as having commissioned a giant golden statue of himself in the manner resembling a Central Asian despot is doing the rounds on social media.

However, this narrative has some problems. Gladhanding Putin is a political necessity for landlocked Mongolia, whose 3.5 million population relies on Moscow for 90% of imported gas and petroleum and is completely beholden to Russia for security. “Turning up in September was Putin showing the rest of the world his middle finger,” says Prof. Julian Dierkes, a Mongolia expert at the University of Mannheim in Germany. “There was no option for Mongolia to say no.”

Moreover, Khurelsukh has proven an internationalist, first addressing the U.N. General Assembly soon after his inauguration in 2021 and returning every year since. (His predecessor, Khaltmaagiin Battulga, rarely showed up.) While not outright condemning Russia’s aggression in Ukraine, Khurelsukh’s latest UNGA address in September did pointedly voice opposition to “using force against the territorial integrity and political independence of any state.”

Khurelsukh has also repeatedly gone on record to oppose amending the constitution, which was just updated in 2019 to strengthen the legislative branch. “Honestly, there isn’t a lot of worry about the President trying to stay in power,” says Bolor Lkhaajav, a Mongolian political analyst and commentator. Dierkes agrees: “I call baloney on the ‘evil President thesis.’”

It’s also a thesis that completely ignores the concerns of the Sukhbaatar Square protesters while presuming that things in Mongolia were otherwise rosy and improving under Oyun-Erdene. However, Mongolia’s score on the Transparency International Corruption Perceptions Index had fallen from 35 out of 100 when he came to power in 2021 to just 33 last year. Meanwhile, human-rights groups have condemned the prosecution of peaceful protesters and prominent journalists under his watch. Mongolia’s press freedom ranking dropped to 109 out of 180 countries last year, down from 88 in 2023, according to Reporters Without Borders.

“On corruption, he’s taken rhetorical actions,” Dierkes says of Oyun-Erdene. “And on democracy promotion, he’s taken negative actions. He is no democracy warrior.”

Moreover, while Zandanshatar is clearly close to the President, he is by no means a lacky, being a highly educated career politician—a former visiting scholar at Stanford—with his own power base. Still, what Zandanshatar’s rise to the premiership means for Mongolia going forward is a big question.

A married father-of-four, Zandanshatar, 55, developed a reputation as a thoughtful, steady speaker of parliament. Following his posting at Stanford, he returned enthused about deliberative polling, which was subsequently employed to gauge public opinion prior to the 2019 constitutional amendment. Zandanshatar does, however, have a democratic deficit given he’s one of the few senior MPP figures not to have won a seat in the 2024 election, though he had been elected three times previously. 

Although choosing a non-lawmaker as Prime Minister is not unprecedented, Dierkes fears this may serve as a “legitimacy achilles heel” should the winds turn against him. Jargalsaikhan also notes Zandanshatar was one of the proponents of Mongolia’s 2006 “windfall tax” on copper and gold mining profits. (The 68% levy—the world’s highest—was repealed in 2009 after decimating investor confidence.)

Oyun-Erdene had earmarked 14 new mega projects to boost economic growth, including a major expansion of renewable energy and cross-border railway connections with China, which receives 90% of Mongolian exports. He also promised to diversify the country’s economy, which is heavily dependent on a mining industry that accounts for a quarter of GDP. But policy continuity is key to attracting the foreign investment necessary to realize these goals.

“Until investment laws are consistent here, investors are going to be wary,” says Steve Potter, an honorary member and former chairman of the American Chamber of Commerce in Ulaanbaatar. “Constant changes in rules and regulations have long been a problem. Consequently, foreign investment has been very lackluster.”

Investor uncertainty isn’t the only worry. Having lasted in power four-and-a-half years, Oyun-Erdene was the longest-serving of Mongolia’s 18 Prime Ministers since its 1990 democratic revolution. The revolving door of governments and leaders has augmented the idea that parliamentarian democracy is flawed or inherently unsuited to Mongolian society, while rendering a centralized political system more appealing for some—an idea that is being amplified by shadowy actors on social media and galvanized by Oyun-Erdene’s tone deaf response to protesters’ demands.

“The protests were organic, but instead of showing his financial papers the Prime Minister’s response was so political,” says Bolor. “His reaction showed just how disconnected he was from the people, who only care about how his policies are impacting their daily lives, such as air pollution, unemployment, and corruption.”

So while Oyun-Erdene’s demise was likely rooted in factional bickering rather than a nefarious power grab, the debacle contains a stark warning that Mongolia’s political class needs to start pulling in the same direction for cherished freedoms to be secured. “Democracy itself is very fragile,” says Jargalsaikhan. “But it’s so important and can only be protected by a thriving parliamentarian system. And we must not lose democracy in Mongolia.”

by
Charlie Campbell

Ulaanbaatar Dialogue Shows Mongolia’s Foreign Policy Continuity Amid Political Unrest www.thediplomat.com

No prime minister, no problem: Mongolia’s 10th International Conference on Northeast Asian Security proceeded as planned.
Mongolia hosted the Ulaanbaatar Dialogue (UBD) on Northeast Asian Security in Ulaanbaatar from June 5-6. This year’s dialogue was surrounded by domestic political turmoil – the ousting of Prime Minister Oyun-Erdene Luvsannamsrai last week and the search for a replacement, with Zandanshatar Gombojav just nominated. Yet despite the circumstances, the UBD demonstrated continuity in Mongolia’s foreign policy and its broader aim to be engaged in matters of global affairs. 
On June 5, Foreign Minister Battsetseg Batmunkh opened the 10th Ulaanbaatar Dialogue, also known as the International Conference on Northeast Asian Security. In her opening remarks, Battsetseg highlighted Mongolia’s presence in regional and global affairs, and said that its peaceful foreign policy and diplomatic approaches aim to establish confidence-building and peacekeeping between conflicting parties. 
Battsetseg expanded on the purpose of the the UBD. As one of Northeast Asia’s important international conferences, she said, scholars, academics, and researchers can openly discuss and engage in fruitful dialogue on challenging topics, while seeking a peaceful resolution to these challenges. 
This year’s UBD gathered over 230 scholars and experts from 40 countries. In comparison to the previous year’s UBD, this year saw participation of some new partners, such as the United Arab Emirates, Oman, the Philippines, and Iceland. 
The Philippines ambassador to China, James FlorCruz, who is also the country’s non-resident ambassador to Mongolia, spoke at the UBD. “We are committed to deepening these bilateral relationships while upholding our core principles of sovereignty, independence, and the peaceful settlement of disputes,” he said. As Mongolia and the Philippines have been strengthening bilateral ties, the participation of FlorCruz in the UBD was a boost to the two countries’ bilateral relations.
FlorCruz highlighted, “For the Philippines, fostering peaceful and stable relations with all nations in Northeast Asia – including China, Japan, Mongolia, and the two Koreas – is a matter of strategic interest.”  
In addition to round table discussions the UBD offers platforms and opportunities for sideline engagements. For instance, the director of Institute of Strategic Studies under the National Security Council of Mongolia, Mendee Jargalsaikhan, signed a Memorandum of Understanding with the Uzbekistan-based International Institute for Central Asia, headed by Javlon Vakhabov, to expand their partnership. 
Mongolia’s hosting of the UBD amid political unrest shed light on the importance of the country’s foreign policy – and the need for continuity. Sandwiched between two large powers, Russia and China, Mongolian diplomacy must always be active and engaged with its neighbors, but also beyond. Simply put, Mongolia cannot afford to have its foreign policy derailed by political instability at home.
Since Mongolia’s democratization in 1991, its governments, especially the prime minister’s office, has been extremely unstable, yet Mongolia’s foreign policy direction has not wavered. Other than disruption caused by the COVID-19 pandemic, the UBD has become an annual strategic platform for Ulaanbaatar to gather experts representing multiple and diverse perspectives.  
The 2025 Ulaabaatar Dialogue centered on five main themes: 1) security challenges and opportunities in Northeast Asia, 2) multilateral cooperation in Northeast Asia, 3) climate change and security challenges, 4) regional cooperation between Northeast Asia and Central Asia, and 5) energy challenges and climate change in Northeast Asia.
As Mongolia will be hosting COP17 for the United Nations Convention to Combat Desertification in 2026, the UBD put a special focus on climate issues. 
Despite the United States withdrawing from many climate agreements and multilateral agreements that would have guaranteed both financial and moral support for Mongolia’s commitment to address climate change, Ulaanbaatar’s other partners – in Asia, Europe, and now the Middle East – remain optimistic about such global outreach and partnerships. 
The UBD serves as a mechanism for Mongolia to strengthen bilateral and multilateral relations. In this year’s context, the dialogue created space for countries to seek cooperation mechanisms to tackle climate change.
Mongolia’s third neighbor partnerships, particularly with South Korea and Japan, can be augmented in the area of climate change. South Korea’s commitment to invest $1.9 billion in green technology aims to support the country’s ambitious goal to become carbon neutral by 2050. South Korea’s commitment to renewable energy and technological advancement is a major incentive for Ulaanbaatar to incorporate those advantages in its own fight against climate change.
Similarly, in Japan, according to the Asia Investor Group on Climate Change, “investors are increasingly committed to setting 2030 or 2035 emissions reduction targets.” China, too, has set a goal to reach carbon neutrality by 2060. Combining Japan, China, and South Korea’s investment potential in climate change and green funds, Mongolia certainly has the opportunity to attract investments from Asian partners even as the U.S. withdraws from this space. 
As Mongolia continues its international commitment to combating climate change, domestically, it is already experiencing the impact. The need to tackle climate change has become a multilevel challenge, which requires policymakers to understand the full complexity of the problem. At a policy level, the legislative branch as well as the executive branch will need to implement policies and allocate financial resources to climate change issues. In these efforts, the UBD serves as a platform to learn from others, and hopefully inspire and attract investment in sectors that are prone to climate change impact.
By
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

The United Nations Children’s Fund (UNICEF) in Mongolia, the National Foundation for Supporting the Billion Trees Movement, and Creditech STM NBFI LLC have jointly launched the “One Child – One Tree” initiative www.billiontree.mn

The UNICEF Mongolia, the Mongolian Billion Tree Foundation, and Creditech STM NBFI LLC signed a Memorandum of Understanding on June 9, 2025 to jointly collaborate on the “One Child – One Tree” initiative.
The initiative aims to ensure that the rights and wellbeing of children are respected and fulfilled by providing opportunities to learn in a healthy, eco-friendly environment, enhancing their knowledge and awareness of nature and ecology, encouraging them to actively participate in creating green spaces with their own hand and promoting their engagement within the broader community. 
The initiative aims to support the education of children in Mongolia and promotee environmental sustainability through implementing school-based forestry and gardening programs.
1.  The Parties aim to achieve the following results through this cooperation:
• Establish up to 500 school-based tree nurseries and food gardens.
• Enable up to 280,000 students to receive education on forestry and gardening.
• Engage up to 15,000 teachers and students in tree planting and forest conservation activities. 
• Develop and implement at least five innovative mechanisms to sustain tree growth and environmental stewardship.

New Mongolian PM takes office after corruption protests www.afp.mn

 Mongolian lawmakers on June 13 confirmed former top diplomat Gombojav Zandanshatar as the country’s new prime minister, after his predecessor resigned following weeks of anti-corruption protests.
Thousands of young people have demonstrated in the capital Ulaanbaatar in recent weeks, venting frustration at wealthy elites and what they see as pervasive corruption and injustice.
They called for then Prime Minister Luvsannamsrain Oyun-Erdene to step down and got their wish when the embattled leader announced his resignation last week.
Mr Zandanshatar – also from Mr Oyun-Erdene’s ruling Mongolian People’s Party (MPP) – was elected as his replacement in the early hours of Friday morning, with 108 out of 117 present voting in favour.
In a speech to lawmakers following his election, he stressed “the urgent need to stabilise the economy, improve the income and livelihood of its citizens”, according to a readout from the parliament.
The 52-year-old has been a fixture on Mongolia’s fractious political scene for around two decades and is seen as close to President Ukhnaa Khurelsukh.
He previously served as foreign minister and chief of staff to the president, as well as parliamentary speaker when the fledgling northern Asian democracy passed key constitutional reforms in 2019.
Before its recent political crisis, Mongolia had been ruled by a three-way coalition government since the 2024 elections resulted in a significantly reduced majority for Mr Oyun-Erdene’s MPP.
But in May, the MPP evicted its second-largest member, the Democratic Party (DP), from the coalition after some younger DP lawmakers backed calls for Mr Oyun-Erdene’s resignation.
That pushed Mr Oyun-Erdene to call a confidence vote in his own government, which he lost after DP lawmakers walked out of the chamber during the ballot.
Corruption ills
Mr Zandanshatar takes charge as Mongolia faces a combustive political cocktail of widespread corruption, rising living costs and concerns over the economy.
On the streets of Ulaanbaatar, prior to the vote, 38-year-old sociologist Tumentsetseg Purevdorj said his “political experience is a good asset”.
“But what we need is to have a strong and functional government,” she said.
“As a woman, I want him to include skilled woman representatives in the new cabinet.”
But other young Mongolians were sceptical that anything would change under the new prime minister.
“He has had high official status for over two decades,” Mr Bayaraa Surenjav, 37, told AFP.
“But I still can’t name a single good work he has done in those years.”
Mr Zoljargal Ganzereg, a 25-year-old economist, bemoaned the fact that “he was a politician when I was born and he is still up there”.
“Look at how we live, living paycheck to paycheck, barely affording the basic needs,” he said.
“If he can’t do anything about it, I have no choice but to move abroad.” AFP

Gold, Mined by Artisanal and Small-Scale Miners of Mongolia to Be Supplied to International Jewelry Companies www.montsame.mn

The Bank of Mongolia has signed a Memorandum of Understanding with the Swiss Better Gold Association and Argor Heraeus, the precious metals refinery of Switzerland.
Under the Memorandum of Understanding, the parties will cooperate in supplying gold mined by artisanal and small-scale miners in Mongolia to international jewelry companies as raw materials. This will demonstrate that the gold mining and supply chain in Mongolia is transparent and reliable. Gold miners will also be given incentives for each kilogram of gold they deliver.
In the first phase, artisanal and small-scale miners operating in Bulgan aimag will be involved. The Bulgan aimag branch of the Bank of Mongolia and the Precious Metal Assay Laboratory of the Mongolian Agency for Standardization and Metrology will collaborate on the Project.
During the World Gold Council meeting held last year, along with the Central Banks of Colombia, Ecuador, and the Philippines, the Bank of Mongolia joined the “London Principles,” a set of principles aimed at formalizing the purchase of gold from artisanal and small-scale miners, supporting responsible artisanal mining, and integrating them into the formal supply chain.