Global Economic Crisis
From Mongol Studies Online Reference
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[edit] Declining Mineral Prices
The increasing demand for raw materials in the 21st century spurred the steep increase in the prices of mining materials leading up to the end of 2008 when the full effects of the global economic crisis began to take root. Starting in the summer of 2007, the price of copper futures per tonne on the London Metal Exchange began to steadily rise. With the World Bank estimating that almost forty percent of revenues for the Mongolian government coming from mining concessions [1], the ability of the government to pay for social welfare programs and finance its dept to the International Monetary Fund (IMF), World Bank and Asian Developmental Bank (ADB).
