Mongolian President N. Enkhbayar is going to pay an official visit to the Russian Federation in the coming month. The main topic of discussion before his departure is Tavan Tolgoi. According to a source, Deptuy Premier M. Enkhsaikhan, head of a working group involved in preparations for the visit, said: “It is right to give Tavan Tolgoi to the Russians by getting back Tavan Tolgoi from its licence-holders.” But Vice Minister of Foreign Affairs Ts.Tsolmon disagreed: “No, it needs to be given to the Chinese. They will show a more effective influence for the Mongolian economy than the Russians.”  (Ardiin Erkh)

All People’s Congress spreads to aimags

The Mongolian Democracy Association has said that it will support the All People’s Congress. When Kh. Battulga, the head of the Mongolian Democracy Association, was asked what that participation would be, he replied: “We have officially informed about our participation to the congress. This is an action which must exist in Mongolia. By doing this, we deliver a message about human rights that are part of the Constitution that are being violated and the problems in our society.” Mongolian Democracy Association branches in Orkhon-Uul, Huvsgul and Uvs aimags are planning to organize demonstrations. (Daily News)

Mongol Bank starts repurchase trading

On November 1, Mongol Bank started trading long-term government bonds to commercial banks with repurchase conditions. The bonds, which the bank owns owns, were created in relation to the debt to be paid to the Russian Federation. This repurchase trading is a new tool of monetary policy which limits internal price growth. In some instances, it can be used to replace the security of the Central Bank. In effect, government security will be a financial tool which is quickly saleable and actively purchased on the financial market, in particular the monetary market. (Centennnial News)