Mongolian President blames politicians for blocking economic development

Mongolian President has blamed populist politicians for blocking large mining projects, which has caused an economic crisis in the land-locked country.

Tsakhia Elbegdorj said Politicians of our country are really irresponsible, referring to the parliamentary working group that stopped a large mining deal involving an international consortium led by China Shenhua Energy, Mongolian Mining Corporation and Japanese Sumitomo.

The Mongolian government regarded the deal as necessary to boost the economy, as it will inject much-needed cash into the domestic economy and send a positive signal to the land-locked country’s international investors.

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