Deve-lopment Bank of Mongolia bondholders can expect their debts to be repaid in full when they fall due next year, a senior finance official said on Friday, even as the state-backed bonds traded below par just three months before maturity.
The International Monetary Fund is predicting zero growth this year for Mongolia's once promising economy, as a result of years of declining foreign investment, slower growth in China, and a softer market for its abundant coal resources. The country pinned between China and Russia is reeling from a balance of payments crisis and a tumbling tugrik currency that the present government has blamed on mismanagement by the prior administration.