Very recommendable!
"Libya is set to join China’s CIPS framework, giving it a route to make payments directly in yuan and reduce reliance on SWIFT, where the dollar dominates. The shift is being driven by cost, speed and access to Chinese capital. Kenya has already converted some dollar loans into yuan, cutting interest costs. Egypt, Nigeria and South Africa have currency swap arrangements with China. The dollar still dominates Africa’s overseas debt, but Beijing is steadily expanding the yuan’s role across the continent."
No comments:
Post a Comment