IRI Co-hosts Mongolian Economic Briefing

April 9, 2004

“In Mongolia’s capital city, there are 156 construction cranes etched against the skyline.” This comment was offered as a lead-in to a discussion to illustrate Mongolia’s economic development at a briefing jointly sponsored by IRI, The Asia Foundation and the North America-Mongolia Business Council held on April 8. J. Peter Morrow, CEO of the Agricultural Bank of Mongolia (“Khan Bank”) provided an insightful overview of the current economic and political situation in Mongolia. Morrow is a banker and financial consultant with 34 years experience in the U. S. and developing countries. Stressing that he was not politically partisan, Morrow gave the current government strong marks for enacting economic reforms and serious progress in privatization. Conversely, he discussed the need to end corruption and bring about transparency in the legislative process in Mongolia’s Parliament.

IRI’s Mongolia program is currently advising members of parliament on draft ethics legislation and open committee hearings. The focus of the parliamentary program is to assist the State Great Hural (parliament) to operate effectively in conducting its legislative oversight and representative responsibilities. The goal is to increase the capacity of parliament to conduct transparent, credible, and accountable oversight of government operations and legislation.

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