Latest news with #Zandanshatar
The Star
a day ago
- Politics
- The Star
New PM in office following protests
The nation's lawmakers on Friday confirmed former top diplomat Gombojav Zandanshatar (pic) as the country's new prime minister, after his predecessor resigned following weeks of anti-corruption protests. Thousands of young people demonstrated in the capital Ulaanbaatar in recent weeks, venting frustration at wealthy elites and what they see as pervasive corruption and injustice. They called for then-prime minister Luvsannamsrain Oyun-Erdene to step down, and got their wish when he announced his resignation last week. Zandanshatar was elected as his replacement in the early hours of Friday morning, with 108 out of 117 present voting in favour. In a speech to lawmakers following his election, he stressed 'the urgent need to stabilise the economy, improve the income and livelihood of its citizens', according to a readout from the parliament. Zandanshatar takes charge as Mongolia faces a combustive political cocktail of widespread corruption, rising living costs and concerns over the economy. Prior to the vote, 38-year-old sociologist Tumentsetseg Purevdorj said his 'political experience is a good asset'. 'As a woman, I want him to include skilled woman representatives in the new Cabinet,' she said. But other young Mongolians were sceptical that anything would change under the new prime minister. 'He has had high official status for over two decades,' said Bayaraa Surenjav, 37. 'But I still can't name a single good work he has done in those years,' he said. — AFP
2 days ago
- Business
Mongolia gets a new prime minister who pledged to address the economic demands of protesters
ULAANBAATAR, Mongolia -- The new prime minister of Mongolia has pledged to address the economic demands of protesters after their daily rallies led to the fall of his predecessor. Lawmakers approved former parliament speaker Zandanshatar Gombojav as prime minister by an overwhelming majority in a vote late Thursday night. His election appeared to mark the end of several weeks of political uncertainty in a still-young democracy of 3.4 million people that is sandwiched between much larger China and Russia. The new leader faces multiple challenges including high inflation, a looming government budget deficit and fears of power shortages this winter. Speaking ahead of the vote in parliament, Zandanshatar said this year's government spending needs to be reduced by about $640 million to avoid a significant revenue shortfall. 'Revision of the budget has become inevitable,' the former banker said, saying he would submit a revised budget to parliament next week. Zandanshatar, 45, studied economics at university in Russia and was vice director of one of the largest commercial banks in Mongolia. He was parliament speaker from 2020 to 2024 and was named head of the president's office after he lost his seat in an election last year. From 2014-16, he was a visiting scholar at Stanford University in California. His predecessor, Oyun-Erdene Luvsannamsrai, resigned 10 days ago after losing a vote of confidence in parliament. The protests against Oyun-Erdene's rule were sparked by reports of lavish spending by his son. Many Mongolians feel the nation's mineral wealth has benefited politicians and their business friends rather than the general population. The poverty rate remains high in the sparsely-populated country. Zandanshatar said he would ensure that economic growth is inclusive and reached all Mongolians. He promised to launch a tax reform to reduce the burden on the middle class and increase taxes on luxury consumption and those with ultra-high incomes. He won election by a vote of 108 to 9 in the 126-member parliament. The other nine members were absent.
The Hindu
2 days ago
- Business
- The Hindu
Mongolia gets new prime minister who pledged to address economic demands of protesters
The new Prime Minister of Mongolia has pledged to address the economic demands of protesters after their daily rallies led to the fall of his predecessor. Lawmakers approved former parliament speaker Zandanshatar Gombojav as Prime Minister by an overwhelming majority in a vote late Thursday night. His election appeared to mark the end of several weeks of political uncertainty in a still-young democracy of 3.4 million people that is sandwiched between much larger China and Russia. The new leader faces multiple challenges including high inflation, a looming government budget deficit and fears of power shortages this winter. Speaking ahead of the vote in parliament, Mr. Zandanshatar said this year's government spending needs to be reduced by about $640 million to avoid a significant revenue shortfall. 'Revision of the budget has become inevitable,' the former banker said, saying he would submit a revised budget to parliament next week. Mr. Zandanshatar, 45, studied economics at university in Russia and was vice director of one of the largest commercial banks in Mongolia. He was parliament speaker from 2020 to 2024 and was named head of the president's office after he lost his seat in an election last year. From 2014-16, he was a visiting scholar at Stanford University in California. His predecessor, Oyun-Erdene Luvsannamsrai, resigned 10 days ago after losing a vote of confidence in parliament. The protests against Oyun-Erdene's rule were sparked by reports of lavish spending by his son. Many Mongolians feel the nation's mineral wealth has benefited politicians and their business friends rather than the general population. The poverty rate remains high in the sparsely populated country. Mr. Zandanshatar said he would ensure that economic growth is inclusive and reached all Mongolians. He promised to launch a tax reform to reduce the burden on the middle class and increase taxes on luxury consumption and those with ultra-high incomes. He won election by a vote of 108 to 9 in the 126-member parliament. The other nine members were absent.
Asahi Shimbun
2 days ago
- Business
- Asahi Shimbun
Mongolia gets a new prime minister who pledged to address the economic demands of protesters
Then-speaker of the Mongolian Parliament, Zandanshatar Gombojav, looks on during a meeting with Speaker of the Hungarian Parliament, Laszlo Kover, in the parliament building in Budapest, Hungary, on March 6, 2024. (MTI via AP) ULAANBAATAR, Mongolia--The new prime minister of Mongolia has pledged to address the economic demands of protesters after their daily rallies led to the fall of his predecessor. Lawmakers approved former parliament speaker Zandanshatar Gombojav as prime minister by an overwhelming majority in a vote late Thursday night. His election appeared to mark the end of several weeks of political uncertainty in a still-young democracy of 3.4 million people that is sandwiched between much larger China and Russia. The new leader faces multiple challenges including high inflation, a looming government budget deficit and fears of power shortages this winter. Speaking ahead of the vote in parliament, Zandanshatar said this year's government spending needs to be reduced by about $640 million to avoid a significant revenue shortfall. 'Revision of the budget has become inevitable,' the former banker said, saying he would submit a revised budget to parliament next week. Zandanshatar, 45, studied economics at university in Russia and was vice director of one of the largest commercial banks in Mongolia. He was parliament speaker from 2020 to 2024 and was named head of the president's office after he lost his seat in an election last year. From 2014-16, he was a visiting scholar at Stanford University in California. His predecessor, Oyun-Erdene Luvsannamsrai, resigned 10 days ago after losing a vote of confidence in parliament. The protests against Oyun-Erdene's rule were sparked by reports of lavish spending by his son. Many Mongolians feel the nation's mineral wealth has benefited politicians and their business friends rather than the general population. The poverty rate remains high in the sparsely-populated country. Zandanshatar said he would ensure that economic growth is inclusive and reached all Mongolians. He promised to launch a tax reform to reduce the burden on the middle class and increase taxes on luxury consumption and those with ultra-high incomes. He won election by a vote of 108 to 9 in the 126-member parliament. The other nine members were absent.
The Mainichi
2 days ago
- Politics
- The Mainichi
Ex-parliament chief Zandanshatar elected as new Mongolian PM
ULAANBAATAR (Kyodo) -- The Mongolian parliament elected Friday its former chairman Gombojav Zandanshatar as the country's new prime minister after his predecessor Luvsannamsrai Oyun-Erdene resigned earlier this month following protests about his son's lavish spending, local media reported. Zandanshatar garnered 108 of 117 votes cast in the country's 126-member parliament. On June 3, Oyun-Erdene stepped down after failing to secure enough support in a vote of confidence. The 55-year-old new prime minister is a banker-turned-lawmaker. He formerly served as chief of the Cabinet's Secretariat as well as foreign minister and deputy farm minister. In March 2023, Zandanshatar traveled to Japan and met with Emperor Naruhito and Empress Masako. The imperial couple is scheduled to make an official visit to Mongolia in July.
