Russian bank gives  $12 bln loan to CAR  by mistake

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Central African Republic (CAR) President Faustin Archange Touadera: Russian bank mistakenly posts a $12b loan for the country

Central African Republic(CAR), one of Africa’s poorest states, landed a windfall on Tuesday, at least on paper, when Russian state bank VTB reported it had lent the country 12 billion dollars.

However, the bank then said it was a clerical error and there was no such loan.

The loan was mentioned in a quarterly VTB financial report published by the Russian Central Bank.

The report included a table listing the outstanding financial claims that VTB group had on dozens of countries as of Oct. 1 this year.

In the table next to Central African Republic was the sum of 801,933,814,000 roubles (12 billion dollars) — more than six times the country’s annual economic output.

When asked about the data by media, the bank said the loan to the former French colony did not, in reality, exist.

“VTB bank has no exposure of this size to any foreign…



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