Zimbabwe.

Position:InBrief - China's Development Bank to support Zimbabwe's economic recovery programme - Brief article
 
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China's Development Bank (CDB) has pledged support, including a possible currency swap, for Zimbabwe's economic recovery programme. Reports from Harare, the Zimbabwean capital, quoting Chen Yuan, the CDB chief, said the Bank had expressed willingness to help Zimbabwe. "We believe that Zimbabwe is a good candidate for our bank," Chen said. Zimbabwe launched a nine-month recovery programme in April in a bid to rescue an economy hard-hit by Western sanctions.

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Chen said his bank was considering a currency swap between the Zimbabwean dollar and the Chinese yuan to facilitate financial cooperation. Western economic sanctions have ensured that Zimbabwe is starved of foreign currency. The country is in the seventh...

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