BEIJING - The International Monetary Fund and other partners have agreed on terms for a $5 billion loan to the Mongolian government to help get the north Asian country's economy back on track.
The deal is subject to approval by the IMF's executive board.
The IMF said Sunday it would provide $40 million over three years. It says the Asian Development Bank, World Bank, Japan and South Korea are expected to provide up to $3 billion, and the People's Bank of China is expected to extend its $2 billion swap line with the Bank of Mongolia for at least another three years.
Mongolia's debt-laden economy has been hit hard by a sharp decline in commodity prices and a collapse in foreign direct investment.
