Word: rand
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Dates: during 1980-1989
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...bankers just over a year ago indicated that they would not extend new loans and would not roll over the loans to the South African government then in place, the South African government responded in anguish. It froze funds, forbade financial transfers out of the country, stopped trading the Rand and began a campaign to keep the money flowing...
...changing the income brackets or focusing on job categories. While some researchers see a smaller shrinkage, or barely any at all, many are convinced that the change is real. "No matter what definition you use, you come up with the phenomenon," says James Smith, a senior economist for the Rand Corp...
...private buyers. The loss to the U.S. owners would be heavy. The impact on South Africa would probably be at least a temporary loss in skilled management and lower profits. But the Pretoria government, long anticipating all possible sanctions, has developed a two-tier exchange rate for the rand, with lower rates on money from the sale of foreign assets, that would minimize its own capital loss in any foreign- business pullout...
There are those who claim that Boston is a city designed by M.C. Escher, its maps labeled by Italo Calvino. Bostonians speak of a Central Artery that does not appear on maps or signs, of squares that are not square, not labeled and not acknowledged by Rand McNally...
...area of proven vulnerability is finance. Last year, after several American and European banks demanded immediate payment on short-term loans to South Africa because of the deteriorating situation, the country virtually panicked. The level of the national currency, the rand, plummeted, and in September the government declared a moratorium on repaying its $14 billion in short-term bank loans. Says Jamaican Prime Minister Edward Seaga: "If Pretoria will not listen to arguments based on rights, it will listen to arguments based on rands." But no one expects measures against South African trade to be nearly as effective...