The Economist just published a piece on Mongolia’s economic woes and the plans for recovery with support from the IMF and other partners, including the World Bank. The conclusion, that resource cycles need to be managed better, is unassailable.
The article riffs nicely on a blog I wrote a couple years ago. “From Baikhgui to Baigaa” reflects on my experiences in the 1990s, when everything seemed to be “baikhgui” (unavailable), and the changes to now when goods and services are “baigaa” (you can guess what that means). Here is the original blog post.
Years later, “baikhgui” remains a very useful word. (Happily, so does “baigaa”!)