RE:RE:15% Big Deal Every Country Goes Through It I believe the 8% mortgage subsidy program is still in place but talk of 5%, which would be lower than the GOM's or the DBM's cost to borrow money, is out the window. But if the IMF steps in the 8% is probably gone too.
The biggest problem with tight money policies is unemployment. Paul Volcker famously brought down high U.S. inflation in the early 80's on the backs of workers and farmers as unemployment hit 11% during the recession.
If anything Mongolian farmers need more support after the devastating crop losses last year. Haven't heard how crop yields are doing this year but farming could be one of the few bright spots in their economy. IMO