Sri Lanka is readying plans to become the first non-Chinese Asian nation to issue a renminbi-denominated “dim sum” bond next year, in a move that would mark a further step in China’s drive to build a global currency.
Ajith Cabraal, central bank governor, said Sri Lanka was “seriously” examining proposals to issue a first tranche of renminbi debt, as it diversifies external holdings.
Sri Lanka’s would be only the second sovereign dim sum issue, following Britain's move to sell renminbi debt in October, as part of attempts to position London as a financing centre for China’s currency.
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