Javkhlan Bold: Mongolia's Foreign Currency Reserves Stand at USD 5 Billion

Ulaanbaatar, April 10, 2025 /MONTSAME/. Following a directive of the Prime Minister of Mongolia, a Special Working Group has been established to urgently address the pressing issues facing the country. This Group is focused on implementing comprehensive measures aimed at increasing mining exports and boosting Mongolia's foreign currency reserves. The Working Group provides regular updates on its progress at each Cabinet meeting.

On April 9, 2025, Minister of Finance of Mongolia Javkhlan Bold reported, "As of the 7th of this month, Mongolia's foreign currency reserves stand at USD 5 billion, holding steady compared to the previous week." The Finance Minister added, "Mongolia's exports saw a 9 percent increase from last week, reaching USD 237 million. This was notably boosted by copper concentrate exports, especially from the state-owned Erdenet Mining Corporation, whose exports jumped by USD 19 million compared to the prior week."

During the meeting, Minister Javkhlan also outlined some of the Working Group's upcoming plans. He mentioned that the Group is actively working to resolve several key challenges, including finding ways to lower the cost of export products to make them more competitive and dealing with ongoing difficulties related to the transportation, warehousing, and stock exchange trading of mineral resources.