ULAN BATOR Russell Wilson Jersey , June 6 (Xinhua) -- Mongolian Foreign Minister Tsend Munkh-Orgil said on Monday that Mongolia would be able to implement the structural reforms it has agreed to undergo with the International Monetary Fund (IMF), according to Nikkei Asian Review website.


"I am confident that the resources and money that will be lent to the Mongolian government will be used effectively to overcome the temporary economic problems," Munkh-Orgil said on the sidelines of the International Conference on The Future of Asia in Tokyo.


The resource-rich country has benefited from a commodities boom over the last 15 years or so. But a subsequent commodity price slump, investment outflows and slowing demand in key export markets have hit Mongolia's economy hard.


Last month, the IMF approved a three-year Elvis Andrus Jersey , 434-million-U.S. dollar loan for Mongolia as part of a wider 5.5 billion-dollar aid package which is also supported by Japan, South Korea, China, the Asian Development Bank and the World Bank.


The agreement was reached after the IMF admitted that Mongolia had met some of its demands, including raising taxes and cutting spending.


Some observers Ferguson Jenkins Jersey , however, questioned the ability of the Mongolian government to carry through the painful structural reforms needed to put the economy back on track.


But Munkh-Orgil said the reforms were inevitable. "With or without the IMF, we know that we must undertake these reforms. We have expanded fiscally -- a lot. We have stretched ourselves on [the] budget. We have reached unsustainable levels of government debt," he said.


The government is trying to respond through fiscal consolidation, and by bringing the budget under control Cole Hamels Jersey , the minister said.


Mongolia aims to reduce the budget deficit, currently equivalent to 17 percent of the gross domestic product (GDP), to 10.2 percent by the end of this year. It aims to have a budget deficit equal to around 2 percent of the GDP by 2022.


"For the next several decades, the mining sector will continue to be the central linchpin of the Mongolian economy," Munkh-Orgil said Adrian Beltre Jersey , "But at the same time, mining is a very capricious animal. (The) fortunes and misfortunes of the mining sector can go up and down unexpectedly."


Mongolia is ready to diversify its economy, which currently relies on minerals for 90 percent of its export revenue, he said.


"We need to bring in more products, (put) more industries in play Rougned Odor Jersey ," the foreign minister said, "We need to engage the public and businesses in other areas that employ more people and bring more export revenues, like agriculture and tourism."


Kazakh version of "Xi Jinping: the Governance of China" released in Astana


Over 600 students take special train to attend Gaokao on June 7


Three giant pandas return to Chengdu from Japan to start new life


Elephants receive medical care at rescue centre in SW China


Scenery of Dongchuan Red Land in SW China's Yunnan


Macaques attract tourists at scenic spot in SW China's Chongqing


Monk runs on 135-meter-long thin plywood in water in SE China's Fujian


Chinese submersible Jiaolong dives in Yap Trench


Beautiful halter top is a beauty who love the single-product, Brian atwood loca Herve Leger Dresses fully exposed skin can make you a cool summer, the simple style also gives you more room for decoration Nolan Ryan Jersey , worn alone or mix and match have their own style. Fun colors and a variety of trend fashion Herve Leger Sale elements out of the spark of the collision, halter top make you a wonderful and amazing girl.


Besides,its quality is very high,especially its material is slap-up so that the price of it is little high,but now the cheap Herve Leger at for you on ’s a good chance for you shopping for it!Don’t hesitate Ivan Rodriguez Jersey ,buy one for Herve Leger Scoop Back Bandage Dress is a great way to stand out with chic style.A gorgeous and uncommon golden olive color, this Herve Leger Bandage dress is sophisticated and eye catching. With knit panels along the length of this form fitting dress,this bandage look is completely in trend.


Look at this sexy and beatifull Herve Leger Bandage,The designer of Herve Leger dress is perfect with the cut out everywhere is Herve Leger cap-sleeve bandage dress is also fashion with the deep square neckline,may the n