Member of IMF & World Bank

Mongolia becomes a member of the International Monetary Fund (IMF), the World Bank (WB) and the Asian development Bank (ADB). It joins the International Monetary Fund (IMF) with a quota of SDR of 25 million[1] and receives the first IMF loan of USD22,5 million[2].

Besides, Mongolia becomes the 155th member of the World Bank (WB) and the Asian development Bank (ADB). The first WB credit is a USD 30 million ‘economic rehabilitation project.’[3] The purpose of which is clear in its title: “Towards a Market Economy.”[4]

[1] https://www.imf.org/external/pubs/ft/ar/archive/pdf/ar1991.pdf, accessed September 2017
[2] https://www.imf.org/external/np/fin/Tad/extarr2.aspx, accessed September 2017
[3] Hatcher 2014: 105, see also http://documents.worldbank.org/curated/en//Mongolia-Economic-Rehabilitation-Project accessed September 2017
[4] http://documents.worldbank.org/curated/pdf/multi0page.pdf, accessed September 2017