Wednesday, February 4, 2009

Horse Accidents and Others

So January's been an interesting and busy month and only now do I realize that it's been 2 weeks since I last posted an entry in the blog. Meantime, our PM S.Bayar fell from a horse at a snow festival and fractured a rib last week. He'll be bed-ridden for at least 6-12 weeks, and may need to go abroad for treatment. If that is not a slap in the face of the Mongolian healthcare system, I don't know what is. On another note, I found a list of horse accidents on Wikipedia, and Genghis [sic] Khan is said to have died from injuries resulting from a fall from a horse.

As our PM recovers from his holiday injury, the inflation is threatening to devalue the Tugrik further, with the USD dollar hitting MNT 1,510 as of today. According to some economists, the economy can handle the USD going up to MNT 1,800 or even MNT 2,000, considering the fact that the Tugrik has been strong and stable against the USD for a number of years. But me no expert, and would love to hear someone's informed opinion on the matter.

What I am worried about though, is that the economic crisis may become a self-fulfilling prophecy as companies cut down on their spending.