Mongolia’s Pension Loan U-Turn Reveals a Deeper Crisis
- Amar Adiya
- 23 hours ago
- 3 min read
In June 2025, Mongolia’s central bank launched what looked like a textbook tightening move: it reclassified pension loans as consumer debt and slapped a 50% debt-to-income cap on borrowers.
The logic was sound. With inflation simmering and consumer credit ballooning, the Bank of Mongolia aimed to reduce financial risks—especially for the country’s vulnerable seniors.
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