Institutional and Structural Reforms for a Stronger and More Inclusive Recovery

• Ngôn ngữ: eng
• Ký hiệu phân loại: 296.83 Modern denominations and movements after ca. 1750
• Thông tin xuất bản: World Bank, Washington, DC, 2020
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 321698
• Chủ đề: 1. BANKING SECTOR REFORM; 2. CORONAVIRUS; 3. COVID-19; 4. ECONOMIC RECOVERY; 5. ECONOMIC RESILIENCE

Tóm tắt

The new government is taking office at the time when Mongolia and the world is faced with an unprecedented public health and economic crisis. The government is confronted with the difficult task of stabilizing the economy while laying the foundation for a sustainable recovery. In the short run, carefully calibrated macroeconomic policies are needed to ensure stability and mitigate acute risks of an external balance of payment crisis while reducing downside risks to growth and addressing the social impacts of the crisis. In the medium run, reinforcing macroeconomic policies would need to be accompanied by a credible structural and institutional reform program that addresses the central challenge of moving towards a more resilient and diversified economy that is less dependent on extractive industries and that creates more and better jobs as the basis for broadly shared prosperity for all Mongolians. This policy note identifies five key institutional and structural reform priorities to achieve these objectives and specific policy options to address them.