From: "Lawrence H. Summers"

From: "Lawrence H. Summers" To: jeffrey E. <[email protected]> CC: lhsoffice Subject: Re: Mongolia Date: Sun, 04 Oct 2015 03:45:35 +0000 Doesn't pay the bills. Sent from my iPhone Please direct all scheduling inquiries to my office at: Follow me on twitter @lhsummers On Oct 3, 2015, at 11:34 PM, Jeffrey E. <[email protected]> wrote: great. only half facetiously, what if mongoloia offered a true digital currency to replace bitcoin. as a soverign they could do it On Sat, Oct 3, 2015 at 11:33 PM, Lawrence H. Summers < > wrote: I'm good to go. Sent from my iPhone Please direct all scheduling inquiries to my office at: Follow me on twitter @lhsummers 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 democracy in the region and has had made military contributions in Afghanistan. MCC has selected Mongolia for a second compact, and USTR is working on a bilateral Transparency Agreement. We have had regular engagement with them on macroeconomic issues. Mongolia's economic outlook over the medium-term is favorable due to abundant natural resources, but it is highly vulnerable to commodity price volatility—particularly for copper—and they have had trouble developing an EFTA00679161 investment environment for FDI. The IMF recently concluded that Mongolia is at high risk of debt distress. Mongolia might already have had a Fund program but for significant short-term borrowing from its swap line with the PBOC. As things stand, however, Mongolia is not pursuing a Fund program. The authorities have reached a deal with Rio Tinto on the underground portion 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 well-served by your advice. Best regards, Nathan From: Lawrence H. Summers fmailto: Sent: Saturday, October 03 2015 09:16 AM To: Caroline Atkinson < Cc: Ihsoffice < Subject: Mongolia >; Sheets, Nathan Someone approached me on their behalf looking for advice. squeezed by China etc. No idea if I can or want to help them but wondered whether graces of USA. Thx Sent from my iPad Please direct all scheduling inquiries to my office Follow me on twitter @lhsummers They are apparently in financial trouble, they are in good or bad or I suspect neutral please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00679162