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Chinese Yuan to Become Reserve Currency of Lesotho?

Chinese Yuan to Become Reserve Currency of Lesotho?

LESOTHO is among 14 eastern and southern African countries that are considering the adoption of the Chinese yuan as a reserve currency to facilitate the repayment of loans being advanced by the Asian economic giant for infrastructural developments. A team of Central Bank of Lesotho (CBL) officials recently joined their eastern and southern African counterparts […]

New African Railways Ride on Chinese Loans

New African Railways Ride on Chinese Loans

Earlier this month, the first train rumbled down the tracks of a $3.4 billion electric railway connecting landlocked Ethiopia with Djibouti and its access to the Red Sea. The 750-kilometer (466 miles) line, expected to carry up to five million tons of goods per year, promises to have a massive impact on the economies of […]

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