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Mongolia is divided into 21 aymags or provinces. Aimaq (also spelled aimag, and aimak) is the Mongolian word for prefecture. Because Mongolia was a province of China though, it was divided into aimaqs (prefectures of the province of Outer Mongolia). They kept it like this even when they gained their independence.
See ISO 3166-2:MN for their ISO 3166-2 codes.
(capitals in parentheses):
Additionally, the capital, Ulaanbaatar, ranks as a municipality.