<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Sunday, October 4, 2015 3:35 AM</td></tr><tr><td>To:</td><td>Lawrence H. Summers</td></tr><tr><td>Subject:</td><td>Re: Mongolia</td></tr></table>

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.

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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.

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

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