Mr. Chuluunbat said the government also plans to use proceeds from the recent bond to finance a secondary residential mortgage market in Mongolia, similar to the one provided by Fannie Mae FNMA 0.00%and Freddie Mac FMCC 0.00%in the U.S., with the government buying mortgages as bundled securities from private-sector banks.
丘伦巴特说,政府还打算利用最近发行债券的资金去支持蒙古一个二级住宅按揭市场,它类似于美国房利美(Fannie Mae)和房地美(Freddie Mac)提供的按揭市常具体办法是政府从私营银行手中收购证券化的按揭贷款。
That would drive interest rates lower while enabling banks to offer longer-duration mortgages, he said. Most mortgage loans in Mongolia currently are for five to seven years. Nonperforming loans in the country's domestic banks are low and interest rates are high--above 15%--so the mortgage purchases would be 'a very good business for the government,' he added.
他说,这将压低利率并使银行能够发放更长期限的按揭贷款。目前蒙古大部分按揭贷款都是五年期到七年期。他说,蒙古银行业不良贷款率较低,利率较高(超过15%),所以购买按揭贷款对政府来说将是一笔非常不错的生意。
On the economic front, Mr. Chuulunbaat predicted Mongolia's GDP growth would be 'not lower than 20%' in 2013, while inflation would be below 10%. The economy expanded 17% in 2011 before slowing to around 12% this year, according to an International Monetary Fund forecast, while inflation is running at 15%.
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