Two bitter political rivals in Mongolia have joined forces to form a coalition government that will rule the resource-rich nation for the next four years. The centre-left Democratic party, which won the recent election but fell short of an outright majority in parliament, agreed to form a coalition that includes the Mongolian People’s Revolutionary party, a breakaway party headed by Nambaryn Enkhbayar, the former head of state who is facing trial for corruption. Mongolia’s $10bn economy is one of the fastest-growing in the world and it sits atop vast reserves of copper, coal and gold. Many of those deposits are just starting to be developed, and the government that sits in power for the next four years will play a key role in shaping the direction of mining policies and the development of natural resources that are coveted by Mongolia’s larger neighbours, Russia and China.Full Article: Mongolian rivals join forces to govern - FT.com.
Jul 17 2012