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South Africa Finances

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NEWS
December 19, 1994 | From Associated Press
Growing debts and organizational disarray have damaged the African National Congress' ability to govern South Africa, its secretary general said Sunday. The ANC is too dependent on the personal power of President Nelson Mandela, who remains by far the country's most popular leader, Cyril Ramaphosa said in a report to the ANC's first national conference since taking power. Although speaking with surprising candor about organizational difficulties, Ramaphosa was far from pessimistic.
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NEWS
January 7, 1996 | BOB DROGIN, TIMES STAFF WRITER
In April, a year after he cast his vote in this nation's first multiracial election, Remigius Maleke celebrated his part in the new democracy with an unusual act of patriotism. He began to pay his bills. Like most other blacks in this rural township and across South Africa, the 44-year-old teacher had refused for almost a decade to pay for electricity, water, sewers or other basic services, honoring boycotts and strikes called by liberation groups to bring down the apartheid regime.
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NEWS
February 6, 1988 | MICHAEL PARKS, Times Staff Writer
President Pieter W. Botha announced plans Friday to sell many of the South African government's major assets to private investors and use the money for development of the country's poorer areas. The plans include either selling or converting into private companies the country's postal and telecommunications system, electric power utility and railways, national airline and other transport services.
NEWS
December 19, 1994 | From Associated Press
Growing debts and organizational disarray have damaged the African National Congress' ability to govern South Africa, its secretary general said Sunday. The ANC is too dependent on the personal power of President Nelson Mandela, who remains by far the country's most popular leader, Cyril Ramaphosa said in a report to the ANC's first national conference since taking power. Although speaking with surprising candor about organizational difficulties, Ramaphosa was far from pessimistic.
NEWS
June 4, 1987
The South African government announced a budget for the fiscal year ending next March 31 that calls for spending increases of 30% for the military forces and 43% for the police. The education budget, the largest single allocation, shows an increase of almost 20%, with a 40% boost designated for black education. Finance Ministry officials said the overall budget of $23.45 billion represents a 16.
BUSINESS
December 9, 1987 | From Reuters
South Africa has repaid on time a controversial $1-billion loan from the International Monetary Fund granted in 1982, the Reserve Bank reported Tuesday. The repayment was seen as a psychological boost for sanctions-hit Pretoria and clear proof to the IMF of the underlying resilience of the country's gold-based economy. The South African central bank said it repaid the loan in eight installments over the past two years. Only two years ago, South Africa's reserves were barely $1.
NEWS
January 7, 1996 | BOB DROGIN, TIMES STAFF WRITER
In April, a year after he cast his vote in this nation's first multiracial election, Remigius Maleke celebrated his part in the new democracy with an unusual act of patriotism. He began to pay his bills. Like most other blacks in this rural township and across South Africa, the 44-year-old teacher had refused for almost a decade to pay for electricity, water, sewers or other basic services, honoring boycotts and strikes called by liberation groups to bring down the apartheid regime.
NEWS
February 6, 1988 | MICHAEL PARKS, Times Staff Writer
President Pieter W. Botha announced plans Friday to sell many of the South African government's major assets to private investors and use the money for development of the country's poorer areas. The plans include either selling or converting into private companies the country's postal and telecommunications system, electric power utility and railways, national airline and other transport services.
BUSINESS
December 9, 1987 | From Reuters
South Africa has repaid on time a controversial $1-billion loan from the International Monetary Fund granted in 1982, the Reserve Bank reported Tuesday. The repayment was seen as a psychological boost for sanctions-hit Pretoria and clear proof to the IMF of the underlying resilience of the country's gold-based economy. The South African central bank said it repaid the loan in eight installments over the past two years. Only two years ago, South Africa's reserves were barely $1.
NEWS
June 4, 1987
The South African government announced a budget for the fiscal year ending next March 31 that calls for spending increases of 30% for the military forces and 43% for the police. The education budget, the largest single allocation, shows an increase of almost 20%, with a 40% boost designated for black education. Finance Ministry officials said the overall budget of $23.45 billion represents a 16.
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