US EditionChina’s Global Goal for Yuan Boosted by Ethiopian Hopes for Loan Currency Swap
Ethiopia aims to lower borrowing costs by swapping $5.38 billion in dollar loans into yuan, following Kenya’s $215 million annual interest savings deal, officials said.
6 Articles
6 Articles
Ethiopia in Talks With China to Convert Dollar Loans Into Yuan
Ethiopia started talks with China to convert at least part of the $5.38 billion it owes Beijing into yuan-denominated loans, following an example set by Kenya that bolsters China’s efforts to internationalize its currency.
“China is now a very important partner to us, there is a growing volume of trade and investment,” said Ethiopian Central Bank Governor Eyob Tekalign. (RT in Spanish)- Ethiopia started negotiations with China to discuss the possibility of converting a portion of its debt to Beijing into Yuan-denominated loans, Bloomberg reported this Monday. According to [...]
BRICS state to convert dollar debt to yuan - The Press United
Ethiopian officials have hailed a potential currency swap with China to help rebuild the country’s economy after years of shocks Ethiopia has begun negotiations with China to convert part of its $5.38 billion debt to Beijing into yuan-denominated loans amid the government’s push to ease foreign-exchange pressure and deepen trade ties. According to its governor, […] The post BRICS state to convert dollar debt to yuan appeared first on The Press U…
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