Mongolia. Deep economic crisis forced the government to negotiate with the International Monetary Fund (IMF) on rescue packages. According to Countryaah.com, mineral-rich Mongolia’s record growth had surpassed dramatic budget deficits following conflicts with investors, generous budget investments, falling commodity prices and stagnant exports. In order to receive a rescue package equivalent to close to SEK 50 billion, the government was forced to agree to severe budget cuts, increased taxes, increased retirement age and more. Among other things, China, Japan and South Korea contributed to the support package, which was one of the largest in the history of the IMF. The government’s goal was to reduce the budget deficit from 17% to less than 2% in four years. That meant painful austerity that the ruling Mongolian People’s Party was forced to defend in the June presidential election. See ABBREVIATIONFINDER for frequently used acronyms and abbreviations related to as well as country profile of Mongolia.
It was Miyeegombo Enkhbold. He was challenged in the election of the Democratic Party’s Chaltmaagijn Battulga, a businessman and successful former Jewish champion, and by the Mongolian People’s Revolutionary Party candidate Sainkhuu Ganbaatar. The challengers used nationalist rhetoric and criticism of Chinese and other foreign investors. There was a lot of dirt in the electoral movement, and all the candidates were accused of being corrupt.
Battulga and Enkhbold went on to a second decisive round in July, when Battulga won with 51% of the vote against 41% for the party’s candidate. The 54-year-old newly elected president Chaltmaagijn Battulga was accused of populism. He pledged to eradicate poverty and vented criticism and suspicion against China, Mongolia’s largest trading partner. But he gave his support to the plans for railroad construction from the big coal mine Tavan Tolgoi to China.
The loss of the Mongolian party in the presidential election was followed by internal revolt. Claims were raised on the departure of Prime Minister Jargatulga Erdenebat, and in September Parliament voted him out. The party leadership was accused of corruption, such as bribery of voters and contracts for companies in which ministers had interests.
In October, Parliament approved 49-year-old Uchnaagiin Ch邦rels邦ch from the ruling party as the new prime minister. He is seen as a leader in the party’s younger phalanx and is known as a motorcycle enthusiast.
MONGOLIA. – The buffer function between the Soviet Union and China, which could have been said to have ceased during the continuation of friendly relations between the two powers, returned to having its importance after 1960. The deterioration of Sino-Soviet relations, however, brought closer Mongolia to the USSR, with which a twenty-year treaty of cooperation was stipulated on January 15, 1966, while Chinese influence has greatly diminished.
In desert and steppe areas the population density is very low (0.7 residents / km 2), even in the presence of a very high natural growth coefficient (2.7-2.8% per year). A higher than average density encountered in the northern province of Khangai and Bajan Ulegei (1.3 residents / Km 2), as well as in the urban area of the capital Ulan Bator (133 residents/km 2), which has an estimated population of 282,000 residents in 1971. The total population of Mongolia, estimated for 1974, is 1,403,000. The data collected during the last census (1969) are shown in the table.
In recent years the effort to transform the nomadic pastoral economy into a sedentary agricultural one and to develop the industry has been accentuated. The fourth five-year plan (1966-70) and the fifth (1971-75) aimed at an increase of 50% of the agricultural population, through irrigation and scientific methods of cultivation; they also aimed at the development of light industry. The livestock patrimony is the most conspicuous wealth and counts a total of 22.6 million heads (1970), divided as follows: sheep 13.3 million, goats 4.2, equines 2.3, cattle 2.1, which are they add smaller quantities of camels and pigs. The land dedicated to grazing covers over 85% of the surface. Collectivization has extended to total cultivated land and 80% of livestock: there are 272 collective farms and 32 state farms,
The industry is concentrated in the urban centers of Ulan Bator and Darkhan and is represented by canning, textile, brick and cement industries; electricity is powered by modest local coal resources.
The export, consisting essentially of livestock and products derived from livestock, goes exclusively to Communist countries and 80% to the Soviet Union.