SOUTH AFRICA-Role of Foreign Banks


SOUTH AFRICA Role of Foreign Banks Neera Chandhoke A CRUCIAL feature in the development of apartheid in South Africa 'has been jhc availability of overseas investment and foreign loans. The White regime itself acknowledges the fact that the support of the imajor nations or the West in the form of investments, loans and transfer of technology and expertise is crucial to the continuing existence of the state. Between 1972 and 1980, the value of" loans to South African government which have been publicly identified totalled more than $ 7 billion and involved the participation of more than 400 banks from 22 different countries. Thirty loans totalling $ 1.2 billion were made in 1979 and 1980 alone.