"In the present international political climate the capital account remains
the Achilles heel of South Africa's balance of payments.":' World Bank fig-
ures showed that South Africa's growth rate was among the lowest in the
world. The gross domestic product per capita at constant 1985 prices de-
creased by 1.1 percent in the period 1980 to 1987. The Bank for Interna-
tional Settlements reported that South Africa's inflation rate, which was
about 15 percent in the period 1980 to 1987 with a slight decrease in
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