The latest trade figures settled in renminbi have shown a surge in the currency’s share of trade finance. Data published by Swift show that the renminbi now accounts for 4.5% of the market, up from less than 2% a year ago. Many have called this the beginning of the demise of the dollar. Instead, this is the beginning of fragmentation of the multilateral clearing system based on the dollar.
ON DEMAND Africa: refinancing risks and debt distress Gregory Smith, emerging markets fund manager at M&G Investments, joins Burhan Khadbai, head of content at OMFIF’s Sovereign Debt Institute, to discuss refinancing risks that pose difficulties for African sovereigns.
LATEST REPORT Sustainable Policy Institute, Spring 2023 This special edition of the journal examines women’s economic empowerment, how to narrow the gaps in financial inclusion and the connection between gender diversity and climate risks.
