A. BACKGROUND 

Mongolia has received a credit from the International Development Association (IDA) for the Strengthening Fiscal and Financial Stability Project (“SFFSP”). The Objective of the SFFSP is to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure. The project is designed into five components: (I) Strengthening Macroeconomic and Fiscal Management; (II) Improving the Efficiency of Public Financial Management; (III) Enhancing Financial Sector Stability; (IV) Strengthening the Social Protection System; (V) Project Management and Monitoring. The objectives are to: Strengthening fiscal responsibility and implementing relevant policy measures, improving fiscal discipline, strengthening the resiliency of the banking system, improving public expenditure quality in social protection, providing support for Project implementation, coordination, monitoring and evaluation, including, inter alia, audit arrangements, reporting requirements, procurement and financial management activities respectively. For more details, please refer to the Project Appraisal Document Report No. PAD2269 .

Policy makers in Mongolia face considerable challenges in fostering sustained strong growth, price stability and financial stability. In general, the economy has been experiencing in significant mining boom-bust cycle. The fiscal and monetary policies have likely been pro-cycle. In order to enhance sustainable growth and price stability and reduce scale of business cycle, it requires a coherent, integrated fiscal and monetary policy mechanism.

Thus, the MOF is seeking to hire national consultant on analyzing consistency of fiscal policy and monetary policy, making recommendation on enhancing coherence of the policy; drafting regulation and methodology; and introducing them into MOF.

B. OBJECTIVE OF THE ASSIGNMENT 

The main objective of this assignment is to strengthen the MOFs capacity to analyzing consistency of fiscal policy and monetary policy and effectively coordinate these policies.

C. SCOPE OF THE WORK 

Following assignments will be conducted by the national consultant, but not limited to: 

Task 1: Background analysis. 

        • Conduct literature review on fiscal and monetary policy coordination;

        • Evaluate the current legal environment for these macroeconomic policies;

        • Evaluate implementation of macroeconomic policies during the past mining boom-bust cycle.

Task 2: Formulate fiscal and monetary policy coordination mechanism. 

        • Formulate optimal fiscal-monetary policy coordination mechanisms /rules/ which work well in boom or bust period;

        • Undertake backward simulation of proposed mechanism to the past cycles.

Task 3: Recommendation and training

        • Develop a draft methodology by using the proposed mechanism;

        • Develop policy recommendations on optimal coordination of fiscal and monetary policies;  

        • Organize trainings for the relevant staffs on newly developed mechanism and rules and recommendations.

Task 4: Other assigned tasks

        • Undertake such other tasks as reasonably requested and/or assigned by the Director General of Economic Policy Department (EPD) and the Director of the Macroeconomic Policy Division (MEPD).

D. CONSULTANT’S QUALIFICATIONS/ SELECTION CRITERIA

        - Education: A suitable candidate should have at least master’s degree in relevant field of economics, development economics and public policy;

        - Experience: Incumbent should have at least 8 years relevant experience including strong economic analytical, public policy making and  project coordination skills; 

        - Language skills: fluent written and spoken skills in English and written and spoken skills in Mongolian;

        - Other skills:

          a. Ethical approaches to research and practice;

          b. Strong analytical and research capabilities and problem-solving skills;

          c. Demonstrated ability to use relevant methods and instruments to conduct economic analysis;

          d. Ability to interact effectively with officials and staff of MOF;

          e. Research skill including the retrieval of information from a variety of sources; 

          f. Time management skill;

          g. Skilled in working effectively with computer software (STATA and Mathlab) for the analysis of data;

E. CONTRACT DURATION

The assignment is expected to commence in September 2019. The duration of the assignment is for 12 months. If consultant’s performance in accordance with tasks in the TOR is inadequate, the Director General of the EPD shall be entitled to terminate the contract of the assignment.

If you possess the above qualifications, please submit following documents via email to procurement@sffs.mn:

    1. Cover letter indicating why she/he considers her/himself suitable for the position,

    2. Detailed CV highlighting relevant skills/experience,

    3. Copy of diplomas or certificates and,

    4. 2 reference letters from previous last two employers no later than 17:00, September 20, 2019.

The submitted documents will not be returned to the applicants. Please note that incomplete applications would not be considered for evaluation. Only selected candidates will be contacted. Candidates can be interviewed. Detailed terms of reference can be requested from procurement@sffs.mn

Contact address: Attn: Ms.Bayarmaa, Procurement Specialist, Strengthening Fiscal and Financial Stability Project

Room #204, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia; Tel: 70120582

 The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

Further information can be obtained at the address below during office hours: 8:30 to 17:30 hours (local Ulaanbaatar time) or procurement@sffs.mn.

 Attn: Ms.Bayarmaa L, Procurement specialist,  

Project Implementation Unit

The World Bank – Strengthening fiscal and financial stability project,

Room #205, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia

Tel: +976-70120582

70120582