Populist tycoon and ex-judo star inaugurated as Mongolia’s president
ULAANBAATAR, Mongolia — A populist business tycoon and ex-judo star has been inaugurated as Mongolia’s new president, pledging greater benefits for the county’s three million people from their landlocked Asian nation’s vast mineral wealth.
Khaltmaa Battulga of the Democratic Party won a runoff Friday against his establishment opponent Miyegombo Enkhbold of the Mongolian People’s Party.
Battulga told The Associated Press on Saturday that he wanted a “win-win situation for everyone” when it came to foreign investment, which has slumped in recent years following weaker commodity prices and high-profile disputes between the government and large investors including mining giant Rio Tinto.
Mongolia’s economy grew just 1 percent last year, down from 17.5 percent in 2011. It now has $23 billion in debt, more than double the size of its economy.
Battulga was inaugurated Monday.
Subscribe to our daily newsletter
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.