Institutional and Structural Reforms for a Stronger and More Inclusive Recovery : Policy Note for Mongolia
The new government is taking office at the time when Mongolia and the world is faced with an unprecedented public health and economic crisis. The government is confronted with the difficult task of stabilizing the economy while laying the foundatio...
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| Format: | Policy Note |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/669171596000225952/Institutional-and-Structural-Reforms-for-a-Stronger-and-More-Inclusive-Recovery http://hdl.handle.net/10986/34330 |
| Summary: | The new government is taking office at
the time when Mongolia and the world is faced with an
unprecedented public health and economic crisis. The
government is confronted with the difficult task of
stabilizing the economy while laying the foundation for a
sustainable recovery. In the short run, carefully calibrated
macroeconomic policies are needed to ensure stability and
mitigate acute risks of an external balance of payment
crisis while reducing downside risks to growth and
addressing the social impacts of the crisis. In the medium
run, reinforcing macroeconomic policies would need to be
accompanied by a credible structural and institutional
reform program that addresses the central challenge of
moving towards a more resilient and diversified economy that
is less dependent on extractive industries and that creates
more and better jobs as the basis for broadly shared
prosperity for all Mongolians. This policy note identifies
five key institutional and structural reform priorities to
achieve these objectives and specific policy options to
address them. |
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