The IMF agrees with Mongolia on a USD 434 million three year Extended Fund Facility (EFF), which is part of the larger USD 5.5 billion bailout package. This loan substantially increases Mongolian external debt , now estimated at USD 26 billion and more than twice its GDP of USD 11.2 billion.  As a condition for the loan, the government is required to implement budget reforms that include austerity measures, such as a wage freeze and personal income tax increase. Government debt has ballooned from 30% of GDP in 2007 to over 90% in 2017.
 https://www.imf.org/en/News/Articles/2017/05/31/NA053117Mongolia-Turns-the-Corner-with-5-5-Billion-IMF-Led-Financing-Package/ retrieved September 2018
 World Bank, International Debt Statistics 2017, pg. 108 at https://openknowledge.worldbank.org/bitstream/handle/10986/25697/9781464809941.pdf, page 108 retrieved 4 December 2017
 Bloomberg, Mongolia clears hurdles needed for $5.5 billion IMF bailout, 201 April 2017, at https://www.bloomberg.com/news/articles/2017-04-19/mongolia-clears-hurdles-needed-for-5-5-billion-imf-led-bailout retrieved 8 Augusut 2017
 Development Finance Assessment for Mongolia Diversifying finance for sustainable development (2018) http://www.asia-pacific.undp.org/content/dam/rbap/docs/dg/dev-effectiveness/RBAP-DG-2018-Development-Finance-Assessment-Mongolia.pdf, pg.35 retrieved 22 November 2018