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Mongolia dollar-bonds under pressure after parliament ousts PM
September 8, 2017 / 7:09 AM / 2 months ago

Mongolia dollar-bonds under pressure after parliament ousts PM

LONDON, Sept 8 (Reuters) - Mongolia’s sovereign dollar bonds fell on Friday after parliament voted to oust the country’s prime minister late on Thursday.

The 2022 issue fell 0.462 cents to 97.538 cents - the biggest decline since July - according to Tradeweb data. The 2021 bond lost 0.270 cents to trade at 117.729 cents.

Parliament voted to oust Prime Minister Jargaltulga Erdenebat after his ruling Mongolian People’s Party was defeated in a July presidential election. No prime minister of the thinly populated and mineral-rich country sandwiched between Russia and China has completed a four-year term since 2004. (Reporting by Karin Strohecker, editing by Alexander Winning/Nigel Stephenson)

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