Source: China – South China Morning PostKenya’s plan to convert its US dollar-denominated Chinese debt to yuan is a “win-win”, as it is expected to reduce interest payments for the African nation while advancing China’s goal of increasing the global use of its currency, according to analysts.
The deal would be precedent-setting and could establish a new rule book for future debt restructuring and possibly cut reliance on the US dollar.
In late August, Kenya’s Treasury announced that talks with the Export-Import Bank of China were at…Read More