What does the future hold for South Africa under continued ANC Rule?
Firstly before any hand-wringing commences, let us review the economic and political situation in South Africa on the release of Nelson Mandela from incarceration after 27 years.
South Africa was increasingly assailed by many forms of sanctions. The economy was on a downward death spiral. Technically South Africa was bankrupt and could not meet its obligations. This dire position had been caused by the withdrawal of foreign lending to South Africa. It was only the introduction of the innovative Financial Rand which prevented the total withdrawal of all foreign currencies. In spite of this financial sleight-of-hand, the situation was precarious with demands on the Treasury unsustainable.