https://www.scmp.com/rss/322003/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zimbabwe’s adoption of the yuan as legal tender is a positive turn in a somewhat treacherous road as the Southern African country seeks to turn around its economy. Finance minister Patrick Chinamasa announced last month that the country would officially make the renminbi a reserve currency after China agreed to cancel Harare’s US$40 million debt. Although there are genuine fears that Beijing could gain more from the deal than Zimbabwe, there is little denying that it will improve bilateral... https://www.scmp.com/comment/insight-opinion/article/1901116/zimbabwes-move-make-yuan-legal-tender-will-ease-not-solve?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1901116/zimbabwes-move-make-yuan-legal-tender-will-ease-not-solve?utm_source=rss_feed Thu, 14 Jan 2016 05:34:58 +0000 The year 2016 could prove one of the toughest for most African nations, as governments have a litany of challenges to juggle – and preferably beat – before they can call it a normal year. Ravaging drought, a niggling energy crisis, fluctuating commodity prices, rising oil prices, a slowdown in the economies of benefactor countries and skyrocketing rates of unemployment are just a handful in a plethora of challenges looming large for African governments. Impending disaster means you are... https://www.scmp.com/comment/insight-opinion/article/1898318/african-nations-face-tough-year-they-should-not-mortgage?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1898318/african-nations-face-tough-year-they-should-not-mortgage?utm_source=rss_feed Wed, 06 Jan 2016 04:12:51 +0000