May 26, 2016 / 6:46 PM / a year ago

VTB still talking to Mozambique over loan payment - source

JOHANNESBURG, May 26 (Reuters) - Russia’s VTB Bank remains in talks with Mozambique state firm MAM over a late $178 million loan repayment and expects the government to honour a sovereign guarantee in the event of default, a source familiar with the matter said on Thursday.

“In case of MAM default, VTB expects that the loan will be covered by Mozambique guarantees,” the source said. (Reporting by Ed Cropley; Editing by Janet Lawrence)

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