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Mongolia

Yearbook 1998

Mongolia. In April, Prime Minister Mendsaikhany Enkhsaikhan resigned following a settlement within the bourgeois government coalition and was replaced by Tsahiagijyn Elbegdordj. One of his first steps was to merge a bankrupt state bank with a privately owned bank. This led to the ex-Communist Party of the Mongolian Revolutionary Party boycotting the parliament for eight weeks. The party claimed that the merger was against the Constitution and that government members had personal interests in the private bank. In July, Elbegdordj's government was cast in a distrustful vote.

1998 Mongolia

According to Countryaah, the government crisis developed into a power struggle between socialist President Natsagiyn Bagabandi and the expedition government. Bagabandi rejected a number of proposals for new prime minister and the government said no to the presidential candidates. The crisis mood deepened when the Minister of Infrastructure, Sanjaas邦rengyn Zorig, was assassinated in October.

During the government crisis, the country's economic situation deteriorated. The deficit in the trade balance increased rapidly, due to both the drop in copper prices and the abolition of import duties in 1997.

Only in December was the death toll broken when the capital, Ulaanbaatar's 41-year-old mayor Janlavyn Narantsatsralt, could be appointed prime minister.

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