Mongolia Brief December 19, 2014 Part III
Minister
of Roads and Transportation Meets Ambassador of
Japan
to Mongolia
December 19
(infomongolia.com) On December 18, 2014, Minister of Roads and Transportation
Mr. Namkhai TUMURKHUU received in his office the Ambassador Extraordinary and
Plenipotentiary of Japan to Mongolia Mr. Takenori Shimizu.
During the
meeting, Minister N.Tumurkhuu underlined that the Government of Japan has
sustainably contributing to the development of Mongolia’s infrastructure and
noted the bilateral relations in the sector have been broadening mentioning
that the new International Airport at Khushigt Valley in Tuv Aimag has been
successfully implementing and concluding the meeting, parties emphasized to
cooperate actively.
Pupils
of Secondary Schools to Have 6-Week Winter Holiday
December 19
(infomongolia.com) The second winter holiday of secondary schools throughout
the country starts and lasts various depending on grades and locations, where
school holidays in the capital city will start from December 20, 2014.
In Ulaanbaatar,
pupils of elementary classes (1-5 grades) to have winter break for six weeks
from December 20, 2014 until January 26, 2015. Pupils of middle classes (6- 9)
on January 03-26, 2015 and students of senior classes (10-12) on January 10-26,
2015.
In provincials
regions, pupils of elementary classes to have also six-week winter breaks, but
from January 10 until February 09, 2015 and pupils of middle classes from
January 26 until February 09th and students of senior classes from January 31
to February 09, 2015.
The difference
between city and rural areas is due to increasing of cold diseases and during
this period, livestock deliver offsprings and thus it is convenient time for
both children and parents.
Law
on library adopted
By B.
Amarsaikhan
Ulaanbaatar,
December 19 (MONTSAME) The plenary meeting of parliament on December 19 adopted
the law on library.
According to
the introduction of the draft law, made by member of the Standing Committee on
Social Policy, Education, Culture and Sciences Yo.Otgonbayar, the law consists
of seven chapters and 27 sections. It will regulate the legal persons in charge
of library services of all 1,509 libraries, their responsibilities and rights,
legal status and activities of the National Library, ensuring of the customers’
rights, and other related interactions.
"The above
matters have been addressed differently in regards of the variety of
governance, adjustment between the sectors, archives’ registrations and
accounting, the services for readers and storage conditions. “A few historic
cultural masterpieces in libraries were registered and conserved in accordance
with the Law on Cultural Heritage, however, other hand writings and sutras
owned by individuals and private libraries have been beyond reach of the legal
regulation,” said the MP.
The initiator
of the draft considers that the adopting of the law will achieve success in
satisfaction of international standards of the libraries, improving access to
information for the public, and improving the quality of services to meet the
intellectual needs of the people.
The law was
adopted on its final reading, with approval vote of 82.1 percent.
Ban
Ki-moon's message for the International Human Solidarity Day
By N. Khaliun
Ulaanbaatar,
December 19 (MONTSAME) “This year’s observance of International Human
Solidarity Day comes as the world shapes a new sustainable development agenda
to succeed the Millennium Development Goals, the largest anti-poverty campaign
in history, by 2015”, the official website of the United Nations reports.
“Member States,
the United Nations system, experts, representatives of civil society, business
executives and millions of individuals from all corners of the globe, have come
together with a shared sense of purpose to make the most of this
once-in-a-generation opportunity.”
“The new agenda
will centre on people and planet. It will be underpinned by human rights and
supported by a global partnership determined to lift people from poverty,
hunger and disease. It will be built on a foundation of global cooperation and
solidarity.”
“The United
Nations believes that solidarity with people affected by poverty and an absence
of human rights is vital. Based on equality, inclusion and social justice,
solidarity implies a mutual obligation across the global community.”
“As we map our
future development path, we must be firm in our commitment to champion
solidarity and shared responsibility as part of the sustainable development
agenda. These are fundamental values that must be upheld.”
“Only through
collective action can we address such far reaching issues as poverty and
growing inequality, climate change, chronic poverty and major health
challenges, such as the Ebola outbreak in West Africa.”
“On International
Human Solidarity Day, I call for a renewed commitment to collective action. Let
us act together as one to end poverty, achieve shared prosperity and peace,
protect the planet and foster a life of dignity for all”, the UN
Secretary-General's message says.
World
Bank Urges Mongolia to Boost Resilience of Slowing Economy
ULAANBAATAR,
December 18, 2014—(World Bank) Vulnerabilities in the Mongolian economy demand
actions to bolster its resilience, according to the World Bank’s latest Mongolia
Economic Update.
Economic growth
slowed in 2014 as high inflation and a persistent current account deficit
weighed on domestic demand. Inflation eased recently as the economy has cooled,
but remains in double digits.
The current
account deficit, which reached close to 30 percent of GDP in 2011-13, is
expected to drop to around 11 percent of GDP in 2014. However, the balance of
payments pressure remains high, due in part to declining foreign investment.
Without a
strong rebound in foreign investment, pressure on the balance of payments will
increase vulnerabilities and continue to dampen economic growth next
year. Domestic demand will continue to be under pressure, particularly
affecting the non-mining sector.
The report also
cites deterioration in the quality of bank loans and urges closer attention to
the financial strength of the banking system because of its importance to the
economy.
“The measures needed to put the Mongolian
economy on a firmer footing are not easy and will take time to show full
effect, but they will strengthen the resiliency of Mongolia’s economy,
providing the basis for prosperity in the future,” said James Anderson, the World Bank Country Manager for Mongolia. “We welcome the new government’s frank and
forthright acknowledgement of the current state of the economy and its resolve
to address Mongolia’s challenges, and we stand ready to assist in any way we
can.”
External
factors could compound Mongolia’s challenges, according to the report. Global
commodity markets are expected to remain weak, with prices of major commodities
projected to decline further. Meanwhile, a slowing economy in China, Mongolia’s
main trade partner, will also dampen demand.
“The urgent priority now is to tighten
economic policy to address the persistent pressure on the balance of payments,”
said Taehyun Lee, the World Bank Senior
Economist for Mongolia. “This will
also help strengthen the capacity of fiscal and monetary policy to cope with
headwinds in the future,”
Lee cited an
“overly expansionary” economic policy during a period of strong growth and
foreign investment after 2011.
“The pro-cyclical approach that was adopted
fueled unsustainable pressure on the balance of payments and high inflation,
and contributed to a weakening of the banking system,” he said.
The report
welcomed recent steps by the Central Bank to raise the policy interest rate and
gradually reduce lending programs including the Price Stabilization Program.
The Central Bank also strengthened some regulations on the financial sector to
respond to the declining quality of bank assets, although the report called for
more strengthening of prudential regulations.
In the report,
the World Bank urges further actions to tighten monetary policy, especially by
avoiding direct Central Bank injections into the economy.
The report
calls for off-budget spending to be brought under control and recommends that
that all spending by the Development Bank of Mongolia be included in the
budget.
It also calls
for more realistic revenue projections than the overly optimistic predictions
of the past, as well as a credible medium-term fiscal consolidation plan to
strengthen confidence in deficit reduction.
In particular,
Mongolia needs to prepare now to refinance or repay its external public debt of
$1.08 billion in 2017 and 2018. Without tighter economic policies and renewed
foreign direct investment, the economy will remain vulnerable, the report
noted.
Stock
Exchange news for December 19
By B. Khuder
Ulaanbaatar,
December 19 (MONTSAME) At the Stock Exchange trades on Friday, a total of 1,719
thousand units of 16 JSCs were traded costing MNT two million 716 thousand and
720.
"Khokh
gan” /652 thousand units/, “State Department Store” /355 units/, “Arig gal”
/300 units/, “Makh impex” /100 units/ and "Tavantolgoi” /90 units/ were
the most actively traded in terms of trading volume, in terms of trading value
were "Arig gal” (MNT 705 thousand), "Mongol keramik” (MNT 450
thousand), “Makh impex” (MNT 374 thousand and 993), “Tavantolgoi” (MNT 360
thousand) and "Shive ovoo” (MNT 255 thousand).
The total
market capitalization was set at MNT one trillion 422 billion 188 million 130
thousand and 781. The Index of Top-20 JSCs was 14,703.44, decreasing 561.14
units or 3.68% against the previous day.
Mongolia
ranked 88th in Press Freedom Index
By B. Khuder
Ulaanbaatar,
December 19 (MONTSAME) Mongolia has been ranked 88th place with 30.3 points in
this year’s Press Freedom Index which has been released by the Reporters
Without Borders international NGO.
The index of
Mongolia for this year scaled up 10 places against the previous year. Mongolia
was listed at 98th place in 2013 and 100th place in 2012.
The 2014 World
Press Freedom Index spotlights the negative impact of conflicts on freedom of
information and its protagonists. The ranking of some countries has also been
affected by a tendency to interpret national security needs in an overly broad
and abusive manner to the detriment of the right to inform and be informed.
This trend constitutes a growing threat worldwide and is even endangering
freedom of information in countries regarded as democracies. Finland tops the
index for the fourth year running, closely followed by Netherlands and Norway,
like last year. At the other end of the index, the last three positions are
again held by Turkmenistan, North Korea and Eritrea, three countries where
freedom of information is non-existent. Despite occasional turbulence in the
past year, these countries continue to be news and information black holes and
living hells for the journalists who inhabit them.
This year’s
index covers 180 countries, one more than last year. The new entry, Belize, has
been assigned an enviable position (29th). Cases of violence against
journalists are rare in Belize but there were some problems: defamation suits
involving demands for large amounts in damages, national security restrictions
on implementation of the Freedom of Information Act and sometimes unfair
management of broadcast frequencies.
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