How the IMF, the World Bank, the US and Rio Tinto undermine Mongolia
In this online story, SOMO and the Mongolian NGO OT Watch show how international corporate and diplomatic pressure over the past 30 years prevents Mongolia to profit from its own natural resources. The story is a follow up on the report Undermining Mongolia, which was published in February this year.
It describes – based on leaked documents – how the IMF and the World Bank, together with the US embassy, ensured that Rio Tinto was able to exploit Oyu Tolgoi copper and gold mine under very favorable conditions. And how little revenue finds its way back to Mongolia and the Mongolian people.
Read SOMO online story here.
This is part of SOMO's campaign on Mongolia, Rio Tinto and investment treaties.