Central African Republic: The U.S.$12 Billion Loan That Wasn't

Wikimedia Commons/Alllexxxis
The city centre of Bangui in 2014.
29 November 2018
allAfrica.com

Cape Town — The Central African Republic was U.S.$ billion richer earlier this week - but only for a while.

The mention of the loan was included in a quarterly financial report by Russian state bank VTB, reports Reuters.

Asked by Reuters about the loan, which is roughly 12 times CAR’s annual economic output, VTB said on Tuesday it had been included in the data by mistake.

The  Russian lender on Wednesday then revised its data on exposure to foreign borrowers to remove reference to a $12 billion loan to the country.

Tagged:
Copyright © 2018 allAfrica.com. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.