cross-posted from : lemmy.zip/post/56166944
“The Bank of Zambia has the diversification and building-up of its reserves as a key objective, and purchasing renminbi enables the bank to actualize this objective.”
Chinese Mining Companies in Zambia Start Paying Taxes in Yuan
Submitted 1 week ago by schizoidman@lemmy.zip to globalnews@lemmy.zip
Thedogdrinkscoffee@lemmy.ca 1 week ago
Build foreign reserves, at the expense of the value of your domestic currency. This bodes poorly for Zambia.