EFTA02487140.pdf

From: jeffrey E. <[email protected]> Sent: Sunday, October 4, 2015 3:35 AM To: Lawrence H. Summers Subject: Re: Mongolia great. only half facetiously, what=if mongoloia offered a true digital currency to replace bitcoin. =AO as a soverign they could do it On Sat, Oct 3, 2015 at 11:33 PM, La=rence H. Summers > wrote: =blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:lp= #ccc solid;padding-left:lex"> I'm good to go. Sent from my iPhone Please direct all scheduling inquiries to my office at Follow me on twit=er www.larrysummer=.com <http://www.larrysummers.com/> Begin forwarded message: From: Date: October 3, 2015 at 11:31:08 PM EDT To: Cc: 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 d=mocracy in the region and has had made military contributions in Afghanist=n. MCC has selected Mongolia for a second compact, and USTR is working on = bilateral Transparency Agreement. We have had regular engagement with them on macroeconomic issues. Mongolia's economic outlook over the medium-term is favorable due t= abundant natural resources, but it is highly vulnerable to commodity pric= volatility—particularly for copper—and they have had tr=uble developing 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. EFTA_R1_01606478 EFTA02487140  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 we=l-served by your advice. Best regards, Nathan From: Lawrence H. Summers Sent: Saturday, October 03, 2015 09:16 AM To: Caroline Atkinson Sheets,=Nathan Cc: Ihsoffice 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 direct all=scheduling inquiries to my office at Follow me on twitter www.larrysum=ers.com <http://www.larrysummers.com> please =ote The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to [email protected] <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved 2 EFTA_R1_01606479 EFTA02487141