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”!)
I have read this article when it was first published. It felt like I was back to my childhood when everything was absolutely limited. Thank you for the article, and It is a tremendous development for Mongolians to be able to have everything from having nothing- roughly 20 years ago. Long way to go forward.
Thanks for the comment. As I often say when asked about Mongolia’s prospects: when looking over your shoulder at how far Mongolia has come, it is hard not to be optimistic about the future. 🙂