Bank of Mongolia Governor B. Lkhagvasuren has received his official “A–” rating certificate from the internationally renowned Global Finance magazine, recognizing him among the world’s top central bank governors in the 2025 Central Banker Report Cards.
The award ceremony took place during the IMF and World Bank Annual Meetings held in Washington, D.C., from October 14–18, where the world’s leading financial policymakers gathered.
Recognition of Monetary Policy Leadership
Lkhagvasuren, who has led the Bank of Mongolia since 2019, was praised for guiding the nation’s monetary policy through external shocks and climate-related challenges facing Mongolia’s resource-dependent economy.
According to the Global Finance report, Mongolia’s GDP grew 5.6% in Q2 2025, a sharp rebound from 2.4% in Q1, driven by the mining and agricultural sectors. The Asian Development Bank forecasts overall economic growth of 6.6%for the year.
Inflation eased to 8.1% in July, the lowest level in eight months, following the Bank of Mongolia’s decision in March to raise the policy rate by two percentage points to 12%. The central bank aims to gradually lower inflation to 5% over the medium term, and the report noted that further rate cuts in 2025 are unlikely.
This is the second consecutive year Lkhagvasuren has earned an “A–” grade, reaffirming his position among the world’s top 15 central bank governors.
About the Central Banker Report Cards
Since 1994, Global Finance has annually evaluated more than 100 central bank governors worldwide, assigning grades from A+ to F– based on four key criteria:
- Achievement of monetary policy objectives
- Support for economic growth and financial stability
- Control of inflation and currency stability
- Maintenance of central bank independence
In 2025, 26 central bank leaders globally received ratings of A+, A, or A–, including Christine Lagarde (European Central Bank), Chee Der Joon (Monetary Authority of Singapore), and Ale Michl (Czech National Bank).
