Overview
- Lawmakers withdrew support from Prime Minister Oyun-Erdene Luvsannamsrai following two weeks of mass demonstrations over alleged corruption and economic inequality.
- Social media posts of the prime minister’s son flaunting helicopter rides, luxury goods and an expensive engagement ring ignited the protests.
- The Mongolian People’s Party expelled its coalition partner, the Democratic Party, after several of its MPs backed the demonstrators, deepening political divisions.
- April’s Sovereign Wealth Fund law to reclaim a 34% stake in strategic mines has met fierce resistance from the country’s powerful mining elite.
- Analysts warn that ongoing instability could deter foreign investment and prolong Mongolia’s economic dependence on China and Russia.