Analysis of alternative scenarios for future copper production and copper world prices is in progress. The work is done jointly by the IMF (Jan Gottschalk) and the World Bank (Tehmina S. Khan and Hans Lofgren). It will be used for enhancing the analytical understanding of both institutions of the macroeconomic impact of scaled up copper production in Mongolia, including an improved financial programming framework, and for discussing the likely macroeconomic impact of higher copper production with the authorities. Expected completion: 2010. Preliminary findings were presented in the December 2009 issue of the World Bank's "Mongolia Monthly Economic Update" (see pp. 9-10).