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In April 1994, the democratic South African government inherited an economy that was characterised by: ~ high debt ~ double-digit inflation ~ a currency crisis ~ weak investor confidence 1. Debt-to-GDP • 1994 Debt-to-GDP was 48.8% 48.8% • If SOE debt was added, total public sector debt was at 69% • By 2008, this was reduced to 20% 2. Debt • 1994 = R107 billion (and rising due to compound interest). • R1 out of every R5 was payable just for interest! • On 15 August 2001, the democratic government made rhe last payment toward settling the Apartheid debt. • The irony? - this debt had been incurred by the illegitimate state to uphold Apartheid, oppression, corruption, & atrocities. 3. Surplus! • Crazy to think that for the 2006/7 finyear, we had a Budget Surplus! 4. Inflation • Between 1980 & 1994, inflation, on average, was 14.3% per year. • Peaked at 20.7% in 1986!! • 1994-2002 = 7.0% • 2003-2025 = 5.7% • Lowest recorded: January 2004 = 0.2% • Late 2025 = 3.5% 5. Currency Crisis • April 1994: - SARB reserves at all time low, - could only cover short-term liabilities, - no net reserves to defend the currency, or - pay for imports. • Dual Rand system: Commercial Rand & Financial Rand • FinRand traded at massive discounts (up to 40%!) • Capital flight • Between January 1993 and April 1994 = Rand depreciated by 20% Funnily enough, the Apartheid state bankrupted the country, while only taking care of a minority! NOTE: Current economic situation is bad. But I'll post about that tomorrow, including the turnaround plan. The point about this post is that Apartheid left us spiraling in debt, with zero to little infrastructure or services in townships, virtually no reserves, high inflation, unchecked corruption, and no proper planning. So, before u rubbish our democracy, take note. Thanks 😊🙏

Hunter Here’s the reality. No USAtty would have charged this case given the underlying facts. After a 5 year investigation the facts as discovered only made that clear. Had his name been Joe Smith the resolution would have been - fundamentally and more fairly - a declination. Pardon warranted. Ask yourself a vastly more important question. Do you really think Kash Patel is qualified to lead the world’s preeminent law enforcement investigative organization? Obvious answer: hell no.