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14 Sep 2021

Response by Citi

...Citi generally refrains from commenting on specific client or financial transactions out of respect for client confidentiality. However, we are happy to share with you some general context on how we approach our relationships with different sovereigns around the world.

Citi is the most globally networked bank, and we believe it is our systemic responsibility to help countries around the world safeguard their capital and access the financial markets. Access to international capital markets can make a significant difference in countries’ ability to develop and adopt good practices, especially in the case of frontier markets. However, frontier markets also can be volatile, and situations on the ground can deteriorate rapidly. In such instances, we quickly evolve our approach in order to remain consistent with our mission and values.

We continually evaluate these situations and work with our partners, governments and regulators to ensure we maintain appropriate practices...