EFTA02374977

From: Lawrence H. Summers <Ihs@lawrencesummers.com> Sent: Sunday, October 4, 2015 3:33 AM To: jeevacation@gmail.com Cc: Ihsoffice Subject: Fwd: Mongolia I'm good to go. Sent from my iPhone Please direct all scheduling inquiries to my office at: Ihsoffice@lawrencesummers.com Follow me on=twitter @lhsummers www.larrysummers.com<=a> <http://www.larrysummers.com/> Begin forwarded message: From: <Nathan.=heets@treasury.gov <mailto:Nathan.Sheets@treasury.gov» Date: October 3, 2015 at 11:31:08 PM EDT To: <Ihs@lawrencesumme=s.com <mailto:Ihs@lawrencesummers.com», <caro=ine_m_atkinson@who.eop.gov <mailto:caroline_m_atkinson@who.eop.gov» Cc: <Ihsoffice@l=wrencesummers.com <mailto:Ihsoffice@lawrencesummers.com» Subject: Re: Mongolia The following is a summary of where we are.=.. Mongolia is certainly not in bad graces with us -- it's an example of democ=acy in the region and has had made military contributions in Afghanistan. =CC has selected Mongolia for a second compact, and USTR is working on a bi=ateral Transparency Agreement. We have had regular engagement with them on macroeconomic issues. Mongolia's economic outlook over the medium-term is favorable due to =bundant natural resources, but it is highly vulnerable to commodity price =olatility--particularly for copper--and they have had trouble =eveloping an investment environment for FDI. The IMF recently concluded that Mongolia is at high risk of debt distress. =ongolia might already have had a Fund program but for significant short-te=m borrowing from its swap line with the PBOC. As things stand, however, Mo=golia is not pursuing a Fund program. The authorities have reached a deal with Rio Tinto on the underground porti=n of the Oyu Tolgoi copper mine. But until that money flows, Mongolia will=need macro tightening and better financial sector oversight. At any rate, if you end up helping them out, I'm sure they'll be well-serve= by your advice. EFTA_R1_01382459 EFTA02374977 Best regards, Nathan From: Lawrence H. Summers [mailto:lhs@lawrencesummers.com <mailto:Ihs@lawrenc=summers.com> J Sent: Saturday, October 03, 2015 09:16 AM To: Caroline Atkinson <Caroline_M_Atkinson@who.eop.gov <mailto:Caroline_M_Atkinson@who.=op.gov»; Sheets, Nathan Cc: lhsoffice <I=soffice@lawrencesummers.com <mailto:Ihsoffice@lawrencesummers.com» Subject: Mongolia Someone approached me on their behalf looking for advice. They a=e apparently in financial trouble, squeezed by China etc. No idea if I can or want to help them but wondered whether they are in=good or bad or I suspect neutral graces of USA. Thx Sent from my iPad Please direc= all scheduling inquiries to my office at:lhsoffice@Iawrencesummers.com <mailto:Ihsoffice@lawr=ncesummers.com> 617-495-9322=/span> Follow me on twitter @lhsummers www.larrysummers.com <http://www.larrysummers.com> 2 EFTA_R1_01382460 EFTA02374978