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The African nation of 5 million people is just emerging from the sectarian conflict, with a gross domestic product of $ 1.95 billion, about six times less than the Russian "loan". The loan was mentioned in a quarterly financial report of VTB issued by the Russian central bank. The report included a table listing the outstanding debts of the VTB banking group in dozens of countries as of 1 October this year.
In the table next to the CAR, the sum of 801 933 814 000 rubles, more than six times the annual economic output of the impoverished country.
The Russian state bank said that the loan to the former French colony did not exist.
"VTB Bank does not have exposure of this size to a foreign country. Most likely, this is an operational mistake in the system when countries have been coded, "said the lender in a statement sent to Reuters.
The bank did not want to say who was responsible for the error nor how such a large sum could have been included in the financial report without being spotted earlier.
Asked about the bank's mistake, the Central African government spokesman, Ange Maxime Kazagui, said: "I do not have this information. But that does not seem credible because $ 12 billion exceeds CAR's debt capacity. "
"We are IMF members [International Monetary Fund]. When a member of the IMF wants to incur debt … he must first discuss it with the IMF. "
Data published by the Russian central bank did not specify who was the recipient of the loan, what was the purpose of the loan or when it was issued and under what conditions.
The CAR is a country of 5 million inhabitants emerging from a violent religious and ethnic conflict, with a gross domestic product of $ 1.95 billion (1.53 billion pounds sterling), according to the Bank World.
Russia has affirmed its military presence in CAR in recent years.
Apart from France, the former colonial power, Moscow sent military trainers and equipment to the CAR, and a Russian national is the security advisor to President Faustin-Archangel Touadera under a bilateral agreement.
However, suspicions were voiced that the Russians would enter into agreements with rebels and deploy mercenaries to protect the extraction of gold, diamonds and uranium.
But the CAR Foreign Ministry said earlier this year that Moscow and Bangui had agreed on joint "exploratory mining concessions".
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