Reviewing developments from the vantage point of 1996, the Governor of the South African Reserve Bank (SARB) wrote as follows (Stals, 1996-06-17): The initial non-economic factors that led to the outflows of capital from South Africa during the more than thirty years, from 1961 until the early 1990’s rapidly disappeared after the announcement of the election of the Government of National Unity towards the end of 1993.
Although a large amount of funds still flowed out of the country during the first half of 1994, the situation changed dramatically thereafter.