[misc.headlines.unitex] <2/3> FINANCIAL MEASURES AGAINST SOUTH AFRICA DISCUSSED

unitex@rubbs.fidonet.org (unitex) (09/12/89)

     He said the Nordic countries had worked closely together on
     matters concerning sanctions against apartheid and continued to
     do so.  A common Nordic action programme was adopted in l978 and
     had been revised several times since then, most recently last
     year.  All the Nordic countries had legislated against trade in
     goods with South Africa.  The legislation of Denmark and Norway
     also covered trade in services.  In the United Nations, the
     Nordic countries favoured, among other things, an efficient oil
     embargo and a halt to all air traffic to South Africa.  SAS had
     ceased flying to South Africa in l986.

     As to the results of Nordic sanctions policies, he said, it was
     likely that South Africa had been able to substitute what it had
     previously imported from the Nordic countries with other
     imports, possibly at a higher cost in terms of money and
     quality.  The loss of the Nordic countries as an export market
     had to a certain extent diminished South African earnings of
     foreign currency.  The Nordic sanctions policy had had a
     noticeable effect on the

     South African economy but not to the extent that it had been a
     matter of real concern to the apartheid Government.

     He said that by applying sanctions, the Nordic countries had also
     been able to support and encourage those individuals, groups and
     parties in the United States, United Kingdom and elsewhere, who
     were pressing their Governments to accept sanctions.  The Nordic
     countries did not believe that anything short of compulsory,
     mandatory economic sanctions decided by the Security Council
     would have a real impact in South Africa.  But they hoped that
     other unilateral actions would help to bring that forward.

     In the Harare Declaration, he pointed out, it was stated that
     economic sanctions against South Africa should be terminated
     after the adoption of a new non-racial constitution.  The Nordic
     countries were prepared to continue their policy of sanctions
     against apartheid until a change of that kind and magnitude had
     occured in South Africa.

     TERRY CRAWFORD-BROWNE, a former South African banker and adviser
     to Bishop Desmond Tutu and the Rev. Alan Boesak, said the
     Government's programme of destabilization of neighbouring
     countries, combined with repression within South Africa, had
     again been recognized as being an international menace.

     As a part of the initiative towards comprehensive sanctions, the
     African National Congress, the Organization of African Unity,
     the Commonwealth, the Mass Democratic Movement and South African
     church leaders had identified international financial pressure
     as having particular urgency.

     In September l985, he recalled, South Africa announced a
     standstill on its foreign debt of $24 billion.  Rescheduling
     agreements on part of that debt were negotiated in l986 and
     l987.  It was evident that the Government would attempt to
     extend the agreements well before June l990, hence the urgency
     in asking for international action.

     South African church leaders had requested the major
     international banks involved to refuse to reschedule South
     Africa's debts until the state of emergency was ended;  all
     political detainees and prisoners were released; all political
     organizations were unbanned;  all flagrantly racist legislation
     was repealed; and a process to negotiate a new constitution for a
     democratic, non-racial and unitary South Africa was
     established.

     Every banker both in South Africa and overseas was critically
     aware that the overriding problem of the South African economy
     was apartheid, he said. The annual direct and indirect economic
     costs of apartheid amounted to 80 billion rands.  This was an
     appalling squandering of resources on an immoral ideology which
     was evil, corrupt, unjust, oppressive, violent and a crime
     against humanity.

     He said church leaders and others had asked the major banks to
     make any debt rescheduling conditional upon constitutional
     negotiations for a democratic, non-racial and united South
     Africa.  The Security Council should direct the banks to give
     effect to that request.

     The Government and its supporters would argue that in such an

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