£12bn Russian bank blunder
THE almost broke state of Central African Republic briefly landed a windfall of £ 12BILLION after a Russian banking error.
The loan came to light in a quarterly financial report published by the Russian central bank.
In the table next to Central African Republic was the equivalent sum of £ 12bn – more than six times the country’s annual economic output.
But when asked about the data, the bank said the loan to the ex- French colony did not exist.
“This is a case of an operational mistake in the system when the countries were being coded,” the lender said.
The bank did not say who was responsible for the mistake or how such a large figure could have been published without being spotted.