outflowe would have been even more eubetential and larger surpluses on the current account of the balance of paymentr would have been required to offset deficits on the capital account (current account surplumer that South Africa experienced between 1985 and 1989 are heavily influenced by gold aalepl, although the price of gold was on the decline). /... A/45/552 English Page 16 42. Debt rescheduling has not helped restore South Africa’s creditworthiness, however, and the country haa failed to attract new loans and investments. At the name time, compuloory debt repayments and intereats have, in the absence of new capital inflowo, drained the economy. The debt crisis re-emerged in 1988 when debt repaymenta, a rise in import8 stimulated by a minor economic boom and a drop in gold prices all contributed to a rapid deterioration in South Africa’s foreign reserve position to levels barely sufficient for two months’ import cover. Despite the leniency of the second interim agreement the situation worsened by September 1989, with the country’s foreign reserve doun to only R48 million or 3.4 days of import cover. 43. As a further mearure to relieve the 1985 debt crisis, the South African Government reintroduced the dual exchange rate system, which consists of a ‘cormnercial rand’ and a ‘financial rand’. The higher commercial rand rate is uned for all tranoactione on the current account of the balance of payments, a6 well a8 for foreign loans. The low financial rand rate is usad for tranoactione on the capital account, excluding loans. This is aimed at encouraging new direct investments and discouraging the repatriation by foreign companies of funds generated from disinveetment as well as outward investment by South African companies. The use of the financial rand for repatriation of dieinvestment funds limits the drain on the country’e foreign 
**Analysis**
The text appears to be discussing the economic situation of South Africa, specifically the debt crisis, foreign exchange rates, and the impact on the country's economy. It seems to be focused on the macroeconomic level, with no mention of specific sectors or industries. The text also touches on the international aspect, mentioning the balance of payments and foreign reserves.

**Category**
International trade, Economic development