Mongolian Businessman and Martial Arts expert Khaltmaa Battulga was sworn in as president, vowing to revive the flagging economy and pursue relations with countries outside its giant neighbors Russia and China.
Battulga replaces Tsakhia Elbegdorj after the outgoing president served the maximum four-year terms for two times. Battulga inherits a $5.5 billion International Monetary Fund-led bailout intended to stabilize the economy of the debt-laden country and lessen its dependence on China, which purchases 80 percent of Mongolia’s exports.
Important Takeaways from Above News-
- Ulaanbaatar is the capital of Mongolia.
- The Currency of Mongolia is Mongolian togrog.
Source- The Hindu