The mailing was the Washington Office on Africa is delighted to report that the Congress last week enacted the first economic sanctions against the government of South Africa in its history. The mailing says the conclusion to the long fight to cut financing by the government-run Export-Import Bank to South Africa went completely unnoticed in the press. The mailing reports that on June 2nd the House passed compromise provisions to the Export-Import authorization bill that would have stopped all loans, loan guarantees and insurance in support of exports to the South African government and its agencies, and to companies which, in the judgment of the State Department, are not moving toward...
The mailing was the Washington Office on Africa is delighted to report that the Congress last week enacted the first economic sanctions against the government of South Africa in its history. The mailing says the conclusion to the long fight to cut financing by the government-run Export-Import Bank to South Africa went completely unnoticed in the press. The mailing reports that on June 2nd the House passed compromise provisions to the Export-Import authorization bill that would have stopped all loans, loan guarantees and insurance in support of exports to the South African government and its agencies, and to companies which, in the judgment of the State Department, are not moving toward implementation of the fair employment code drafted by Rev. Leon Sullivan. The mailing says Senate consideration of the Export-Import authorization bill, to which the provision was amended, was delayed again and again. The mailing says on Sunday, October 15th, the House inserted the South Africa Eximbank restrictions passed in June into HR 14279, a bill on flexible regulation of domestic bank interest rates. The mailing says that the bill came before the Senate later in the day, after it had been meeting all night, and that the Senate adopted all of the House amendments without any debate on the South Africa provision. The ailing says the State Department and the Export-Import Bank are already preparing a new operational statement on how the legislation will be implemented. The mailing thanks all who worked hard over the last nine months to cut U.S. support of apartheid through the Export-Import Bank.
