Central banks around the world are gradually shifting away from the dollar. OMFIF’s Global Public Investor 2023 report finds important regional divergences in this trend. Institutions in Sub-Saharan Africa and the Asia Pacific region are more willing to add to their renminbi holdings compared to their European counterparts. They are less deterred by geopolitics when considering investment in China. These results indicate a possible ‘friendshoring’ of reserves over the next decade, meaning central banks with closer economic, or perhaps political, ties with China are more likely to shift away from the dollar and ... (full story)