Developing countries swap out of dollar debt to cut borrowing costs
Developing countries swap out of dollar debt to cut borrowing costs
www.ft.com
Developing countries swap out of dollar debt to cut borrowing costs
Sovereign borrowers are turning to lower interest rates in currencies such as the Chinese renminbi and Swiss franc
A switch to renminbi borrowing — which comes as the Chinese currency hits its highest level against the dollar this year
Kenya and Sri Lanka are seeking to convert high-profile dollar loans into the currency.