Mongolia gets new prime minister as economy slumps

November 21, 2014 10:37 AM

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ULAN BATOR (Reuters) - Mongolia's parliament has appointed Chimed Saikhanbileg as prime minister, it said on Friday, more than two weeks after it ousted his predecessor for failing to get to grips with a slumping economy and foreign investment.

Saikhanbileg replaces Norov Altankhuyag, who was removed from his post following a no-confidence vote on Nov. 5 amid concerns about a serious economic downturn in the landlocked Asian country, which depends heavily on foreign mining investment and commodity prices.

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