External debt of Mongolia reaches $30 billion

AKIPRESS.COM - The external debt in Mongolia has reached $30 billion, over twice of the gross domestic product of the country, the MENAFN reports.
Head of the Reserve Management and Financial Markets Department at the Bank of Mongolia, Atarbaatar Enkhjin, is quoted saying that "Our country's external debt stood at 29.7 billion U.S. dollars at the end of the first half of this year".
Economists and scholars in the country discussed ways to advance optimal strategies to manage external debt and raise foreign currency reserves.
The GDP of Mongolia was valued of around $13 billion in 2019.