China’s global goal for yuan boosted by Ethiopian hopes for loan currency swap
Ethiopia’s plan to convert its dollar-denominated Chinese loans to yuan is a “savvy financial arbitrage play” in the view of some analysts, while others warned that the move could “complicate” negotiations with bondholders over the 2023 Eurobond default. Eyob Tekalign, governor of the Ethiopian central bank, confirmed last week that Addis Ababa had initiated talks…
