Bloomberg: Mongolia’s Democratic Party Leads after Vote for Parliament

Mongolia’s opposition Democratic Party is leading after early counting from parliamentary elections though no party has a clear majority, President Tsakhia Elbegdorj said in an interview today. Elbegdorj said he believed all parties have accepted the results so far and it’s likely a coalition government will be formed in August. The Democratic Party claimed 12 of 14 seats in the capital of Ulan Bator and was winning 50 percent of the rural vote, according to Chimed Saikhanbileg, the party’s leader in the 76-seat parliament. The Democrats had worked with Prime Minister Sukhbaatar Batbold’s Mongolian People’s Party to run the country, which sits on an estimated $1.3 trillion in mineral wealth and had the world’s fastest economic growth last year. Leaders are grappling with how best to exploit deposits of gold, copper, iron and coal without fanning inflation or creating conflict with mining companies led by Rio Tinto Group (RIO) that have invested $5.3 billion. To read the full article, click hereMongolia’s Democratic Party Leads after Vote for Parliament

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