China wants African nations to switch from USD to yuan in debt repayments

China Pushes Yuan-Based Debt Repayments as African Borrowers Seek Dollar Alternatives

New Delhi: Beijing has started asking African countries to shift their debt repayments to China from the US dollar to the yuan as part of its strategy to strengthen its own currency and dent the dominance of the American currency in the global payment system as per a media report. Kenya’s decision to restructure part of its Chinese debt and shift repayment from United States dollars into Chinese yuan“is increasingly being interpreted as an early…

China wants African nations to switch from USD to yuan in debt repayments

New Delhi, July 12 (IANS) Beijing has started asking African countries to shift their debt repayments to China from the US dollar to the yuan as part of its strategy… Continue reading China wants African nations to switch from USD to yuan in debt repayments The post China wants African nations to switch from USD to yuan in debt repayments first appeared on Australia India News.