On Friday, China’s central bank announced that it has entered into an agreement with the Maldivian government aimed at enhancing trade and investment, as the financially troubled Indian Ocean nation seeks to avert default. The People’s Bank of China and the Maldivian Ministry of Economic Development and Trade formalized a memorandum of understanding to promote local currency transactions for current account activities and direct investments, … Continue reading China signs new financial cooperation agreement with debt-ridden Maldives