The Mongolian People's Party (MPP) secured a third consecutive term in the 2024 legislative election, leading to a historic grand coalition with the Democratic Party and the HUN Party. This coalition, led by Prime Minister Oyun-Erdene Luvsannamsrai, marks a significant shift in Mongolia's political landscape, with increased representation of women and minorities in parliament. While the coalition aims to foster stability and address socioeconomic challenges, critics fear it may consolidate the MPP's power and lead to authoritarian tendencies. The coalition's impact on governance and Mongolia's global partnerships remains uncertain.

Mongolia's recent elections, held on June 28, highlighted public dissatisfaction with corruption and economic inequality. The elections were the first since constitutional reforms expanded the State Great Khural and introduced proportional representation and gender quotas. The ruling Mongolian People’s Party secured 68 seats, while the opposition Democratic Party increased its representation to 42 seats. Three smaller parties also gained seats through the new proportional representation system. Mongolia continues to uphold its democratic tradition amidst its authoritarian neighbors, China and Russia.

Mongolia is undergoing a crucial parliamentary election following constitutional reforms aimed at improving representation and governance. Despite these changes, there is noticeable public apathy, exacerbated by the recent murder of an opposition member, allegedly by a campaigner for the ruling party.

A gas explosion in Ulaanbaatar, Mongolia, resulted in six fatalities and over a dozen injuries after a truck carrying liquified natural gas collided with a car. The explosion caused significant damage, including blown-out windows and burnt vehicles. The Mongolian National Emergency Management Agency reported that three firefighters were among the deceased. The incident has raised concerns about city planning and the movement of gas trucks within city limits. Authorities are working to manage the aftermath, and international figures have expressed condolences.

Mongolia's government plans to take public the state-owned miner Erdenes Tavan Tolgoi (ETT) amid a major corruption scandal. The first sell-off round will see 30-40% of ETT sold on the stock exchange to enhance transparency and combat graft. Protests continue in Ulaanbaatar, with demonstrators accusing the government of shielding criminals involved in the scandal. Finance Minister Ganbaatar Jambal advocates for a digital mining exchange to prevent future coal theft. The Independent Authority Against Corruption has arrested 17 individuals, including former President Battulga Khaltmaa, in connection with the scandal. The Democratic Party claims it is being targeted in a political witch hunt by the ruling Mongolian People's Party.

Mongolia's environment minister, Urtnasan Nyamjav, was dismissed by Prime Minister Oyun-Erdene Luvsannamsrai for failing to effectively address Ulaanbaatar's severe winter air pollution. Criticized for her lack of qualifications, Urtnasan's tenure saw continued reliance on refined coal briquettes, which have been linked to worsening air quality and health issues. The government has faced public backlash over its handling of the pollution crisis, with new interim measures and international collaborations being introduced to tackle the problem.

Thousands of people in Mongolia's capital protest against alleged corruption in the coal industry and rising inflation. Whistleblower claims suggest a 'coal faction' of lawmakers has stolen billions of dollars. Mongolia's anti-corruption authority is investigating over 30 officials, including the CEO of the state-owned coal mining company Erdenes Tavan Tolgoi.

Mongolia faces significant economic challenges, with concerns over a potential default due to high debt levels and economic mismanagement. Finance Minister Javkhlan Bold reassures the public, but experts highlight the impact of the pandemic and the Ukraine conflict. The Economist Intelligence Unit warns of reliance on new debt inflows and inflationary pressures. Mismanagement of the Chinggis Bond and non-performing loans at the Development Bank of Mongolia exacerbate the situation. Experts suggest seeking assistance from the IMF and China, but stress the need for accountability and long-term solutions.

Mongolia, despite leading Asia in COVID-19 vaccinations relative to its population, also has the highest proportional new COVID-19 cases. Public health officials attribute this to transmission by young and unvaccinated groups, complacency after initial containment success, and the impact of the delta and other variants, rather than the efficacy of the Chinese vaccines used.

Mongolia faces a high risk of default due to its reliance on new debt inflows, high domestic inflation, and potential currency depreciation. Finance Minister Javkhlan Bold reassures the public, but economic challenges from the pandemic and the Ukraine conflict persist. Protests over economic hardship and mismanagement of funds, particularly the Chinggis Bond, exacerbate the situation. The Economist Intelligence Unit warns of jeopardized public finances and investor confidence. Mongolia's coal exports are crucial but hindered by Chinese border policies. Seeking assistance from China and the IMF is suggested, but mismanagement and lack of accountability remain significant issues.