February 19, 2017 / 3:30 AM / 3 years ago

Mongolia agrees economic bailout plan worth $5.5 bln with IMF, other partners

ULAANBAATAR, Feb 19 (Reuters) - Mongolia has agreed with the International Monetary Fund and other partners for a $5.5 billion economic stabilization package, according to a statement from the IMF on Sunday.

Asia Development Bank, World Bank and bilateral partners, including Japan and South Korea, will provide up to $3 billion, while People’s Bank of China will expand a swap line worth 15 billion yuan ($2.19 billion), the IMF said.

IMF will offer three-year loans worth about $440 million. ($1 = 6.8640 Chinese yuan renminbi) (Reporting by Terrence Edwards; Editing by Himani Sarkar)

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