7/05/2008

Upheaval in Mongolia

Allegations of electoral fraud lead to riots in Mongolia and the declaration of a state of emergency

On July 1st Mongolia's president, Nambarin Enkhbayar, declared a four-day state of emergency. Violence broke out after unofficial results showed that the ruling Mongolian People's Revolutionary Party (MPRP) had won a clear majority in the June 29th elections. Although international observers have reportedly said that the elections were free and fair, the opposition Democratic Party (DP) has accused the MPRP of electoral fraud and rejected the unofficial tally.

It is too early to tell whether the protests will escalate into a full-blown political crisis. It is clear, however, that Mongolia can ill afford a prolonged period of political instability. The government urgently needs to tackle the country's economic problems, especially endemic poverty and a recent spike in inflation, and to approve legislation that is expected to result in huge foreign investments in the mining sector. Meanwhile, political uncertainty could also alienate foreign donors who have been eager to support the fledgling democracy. ...



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[Source: Breaking News from WarOnYou.com - Posted by Mint Dollar- The Federal Reserves Worst NightMare]

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