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CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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African "Road To Peace" Mission Hits Early Snags

SOUTH AFRICA
  • African leaders' peace mission to Ukraine and Russia has commenced, instantly running into multiple logistical problems. The Daily Maverick cited diplomatic sources as noting that Egyptian President Abdel-Fattah el-Sisi, Ugandan President Yoweri Museveni and Republic of Congo President Denis Sassou-Nguesso have pulled out, with the latter trying to convince his peers to postpone the mission due to the risks posed by Ukraine's newly launched counteroffensive. South African President Cyril Ramaphosa, as well as Zambian President Haidande Hichilema, Senegalese President Macky Sall and Comoran President Azali Assoumani decided to continue the mission anyway. It is expected that a peace plan will be drafted by chief diplomats from all seven countries after the leaders meet with Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky. According to the Daily Maverick, Russia has not yet outlined its conditions.
  • More logistical troubles for the "road to peace" initiative came as the plane carrying President Cyril Ramaphosa's security detail and South African journalists got stuck in Poland. Over a hundred heavily armed members of Ramaphosa's security team spent hours stranded at the Warsaw airport, while the President paid a courtesy call to his Polish counterpart Andrzej Duda and eventually left by train for Kyiv, where he arrived this morning. Head of Ramaphosa's security detail accused Polish authorities of "sabotage," although some press reports pointed to issues with the red tape surrounding the transport of weapons and compliance with aviation regulations.
  • South African markets are closed due to the Youth Day, a local public holiday.
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