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Fitch affirms Mongolia
Fitch Ratings said it affirmed Mongolia's long-term foreign- and local-currency issuer default ratings at B+, along with its short-term issuer default rating at B and country ceiling at B+.
Mongolia's economy is set to expand rapidly as the mineral sector develops, but a stronger policy framework is needed to manage the boom, Fitch said.
The economy currently risks overheating amid rapid growth in bank lending and government spending, the agency said.
Mongolia's longer-term prospects are bright, but managing the boom will be challenging, Fitch added.
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