The Central African Republic (CAR) could have landed windfall on Tuesday after Russian state bank VTB reported it had almost lent the country $12 billion by mistake. The sum is over six times the country’s gross domestic product. The loan was mentioned in a quarterly VTB financial report published by the Central Bank of Russia and seen by Reuters. However, VTB insists it was a technical error and that no such loan was provided to the African country. “VTB bank has no exposure of this size to CAR. Most likely, this is a case of a technical mistake in the system when the countries were being coded,” the lender said in a statement sent to Reuters. It didn’t detail who was responsible for the mistake or how such a large figure could have been published without being spotted.
This post originally appeared on SOTT.net