A Crucial Point for Financial Sanctions on South Africa
by John Lind, Interfaith Center on Corporate Responsibility
New York, New York, United States
Interfaith Center on Corporate Responsibility
John Lind, Executive Director of CANICCOR, an interfaith agency in San Francisco, explains South Africa’s financial crisis in the mid-1980s, leading to its’ stopping paying on the principal of loans in September 1985, and the resulting negotiations with its international leaders. He describes the campaign by religious groups to press 13 banks from five countries that are on the negotiating committee with South Africa on its next interim repayment agreement to refrain from converting debt into ten year exit loans and to drive a hard bargain for repayment. [Note: The article is from The Corporate Examiner (Vol. 18, No. 2).]
Used by permission of the Interfaith Center on Corporate Responsibility.
Collection: Private collection of David Wiley and Christine Root