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المشهد العربي
Zambia begins repaying Chinese copper loans in yuan
Zambia has announced that starting next year, it will begin paying a portion of its copper purchases to Chinese companies in Chinese yuan, as part of a strategy to boost reliance on the Chinese currency in trade transactions and reduce dependence on the dollar. This move comes within the framework of Zambia's efforts—Africa's largest copper exporter—to benefit from the advantages of borrowing and receiving loans denominated in yuan, thereby strengthening economic restructuring. Additionally, discussions are underway with China to establish a currency swap agreement, contingent upon sufficient liquidity of yuan to facilitate commercial transactions.
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