Sanctioning Apartheid - KORA

Sanctiotrs and Financing South Afn'cu's Fond@ Ttrrde
us now. A figure fw the total pmdms of foreign machinery
and equipment af !W%I &on is obtained by d g that this
14% applies to khe economy as a whole.
Table 5
Smth AfPiean capital investment in billions of US.
doW
All sectors'
Public cqomtions'
ESKO-~~
1. South African Reserve Bank, Quarterly Bull&.
2 Calculated by scaling from the Public Corporatior!s on the
basis of Gross Investment in billions aE dollars:
2985 1986
Public Corporations' 2.72 232
ESK& 215 1.62
3. ESXM Rospekt, Boersen Ztung, 23 lkcakr 1987
This figure of $693 million is 25% higher than the figure of
!WS million calculated hm the trade data The $693 million
could be high because of ESKOM'S relatively high capital intensity
compared to other sedors of the economy. On the other hand,
the ~ mbornwing o ~ of $164 million in 1986 may be low kcawe
of czmy over horn the large amount of borrowing in 1985.
Nonethehs, the agreement is quite good considering the
&&rent bases of two estimates.
Colrsisw of fhe Mmak of Shor&Tm Credits
The suggestion given above that the Swth African exports
may be primarily hand by South W and that imports
mqukhgshort-term financing are hd through foreign trade