Why Afreximbank has returned to the dollar - The Africa Report
Source: The Africa Report
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DW NOTE
Afreximbank spent years promoting pan-African currency settlement and trade in renminbi. Now it's back to pricing in dollars. When a development bank abandons its own diversification rhetoric, that's not policy adjustment — that's admission that the alternative currency infrastructure never worked.
For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor
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