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.
Eyob Tekalign , Ethiopia’s central bank governor, began discussions for a potential swap with the Export-Import Bank of China and the People’s Bank of China during a visit to Beijing last month, he said in an Oct. 17 interview in Washington, where he attended the International Monetary Fund’s annual meetings.
Ethiopia in Talks With China to Convert Dollar Loans Into Yuan
