IMF Agrees to Lend Mongolia USD224 Million

    If approved by the International Monetary Fund board, Mongolia,

    reported, will receive USD224 million in loan to help the country cope with the impact of the financial crisis. The crisis, according to IMF Managing Director Dominique Strauss-Kahn has severely hit the country's copper industry, which is one of the main export revenue sources of Mongolia. "With more than one-third of the population living below the poverty line, it is imperative that steps are urgently taken to address the economic downturn and protect Mongolia's most vulnerable citizens," Strauss-Kahn remarked.

    About the author

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      Eliza Villarino

      Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.