The move is as much geopolitical as financial, with a growing number of countries questioning their dependence on the US dollar.
Lusofonia
Although domestic sugar supply is unaffected for the time being, devastated sugarcane fields will impact future production.
An Angolan and Portuguese consortium has been given a US$1.168 billion contract to build a 260-kilometre railway connecting Angola’s coast and hinterlands.
Chief Executive Ho Iat Seng promises ongoing support for the organisation, set up to boost trade and investment between China and the lusophone countries.
Angola’s government has high hopes that the facility will spur economic diversification and growth in southwestern Africa.
Brazil’s leftist leader was due to meet President Xi Jinping today but has had to cancel his trip due to an influenza infection.
Newly released data shows that Chinese companies have been the biggest winners in procurement contracts awarded in Timor-Leste over the past 12 years.
Leaders of the world’s most populous and sixth most populous nations are set to meet in Beijing to cement a growing friendship that will be keenly watched by Washington.
Of the six lusophone countries on the continent, only Cabo Verde escapes criticism in Washington’s annual survey of human rights around the world.