News from Zimbabwe on 21 December 2015, that China plans to cancel the 40 million dollars debt of Zimbabwe in order to expend the use of RMB in the multi-currency system of Zimbabwe. Zimbabwe will start to use the RMB as its legal currency in 2016.
The Minister of Finance of Zimbabwe said: “They(China) have cancelled our debts due for this year, we’re now calculating this year’s debts.”
The Minister also announced that Zimbabwe would make the RMB its legal currency in 2016 in order to increase the trade with Beijing.