Petition updateTo veto Mongolia's so-called "debt forgiveness plan"International Monetary Fund
Munkh-Erdene NyamkhuuUlaanbaatar, Mongolia
13 Jan 2020

Тэтгэврийн зээлийг тэглэх шийдвэр нь Засгийн газрын өрийн хэмжээг дотоодын нийт бүтээгдэхүүний хоёр хувьтай тэнцэх хэмжээгээр нэмэгдүүлнэ гэж Олон Улсын Валютын Сан үзэж байна.

Мөн 2017 онд Монгол Улсын Засгийн газрын тохирсон “Өргөтгөсөн санхүүжилтийн хөтөлбөр”-ийн зорилттой нийцэхгүй гэдгийг ажлын хэсгийн ахлагч Жеофф Готтлийб илэрхийллээ. Мөн хүн амын багахан хувийн зээлийн үлдэгдлийг тэглэх шийдвэрийн эдийн засгийн хор хохирлын тухайд "Төсвийн бус нийлүүлэлт нь инфляцыг өдөөж, валютын ханшид дарамт болно" гэдгийг онцолсон юм.

Source: Bloomberg TV Mongolia

If this decision goes forward and not stopped, we, Mongolia as a whole, will forever be remembered as a cheater in regards its commitments. IMF may never rescue us in the future. We already have plenty of such examples, must not want to make another one. As a result, Mongolian credit rating will further slope down the hill. Any future bond, investment would be more costly and harder to secure including those private companies who desperately seek funding to do business as well. Last time, we could secure Government bond by +9% high interest rate. Who knows how costly it would be after today if ever get any investors to trust us again.

If IMF retrieves and gets out of its commitment to Mongolia, we are going to be in the hands of Chinese Government which holds $2 billion USD worth CNY swap deal. China will then decide Mongolian future.

Mongol Bank boasted that it had accumulated $4.4 billion USD in its reserves in recent years and the politicians maybe counting on this reserve. If we have such a big reserve, why the valuation of our national currency keeps going down? However, we might all know, this reserve has been accumulated by printing new national currency, Mongol Bank was buying excess USD in foreign trade directly by PRINTING MONEY! Who knows how much MNT is required to buy 1 American Dollar after election this year, perhaps 3000 or 4000? How much do we need pay for one liter petrol to our cars, perhaps 4000?

NO ONE will be winner including those whos debt is being "forgiven" by everyone else's tax money. Perhaps, the CORRUPT POLITICIANS might win by holding on to their power and using it to enrich themselves. 

We must say NO MORE. We were only 100 in the first 24 hours since this petition started. But we became +1,000 strong in the following 48 hours. So we can aim for 10,000 in the next three days and expect to become 100,000 at the end of this week!

Let's get our voices heard! Let's dare the decision  makers to ever ignore us! We are NOT going to be ignored this time. Let's share this petition and spread our word once more to let the ordinary people like us to know that they are not alone or isolated. Let's be ONE NATION! We are STRONGER TOGETHER! 

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