Dear SA, halt suicidal policies lest we become an economic wasteland

In 1996, financial markets and the bourgeois media bullied the government into believing South Africa had a debt crisis. 

The country’s debt to gross domestic product (GDP) ratio was 49.5%. The foreign debt ratio was 1.9%. There was no apartheid debt crisis. But the government implemented the Growth, Employment and Redistribution (Gear) programme, which included slash-and-burn fiscal policies and sky-high interest rates. 

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