LAST BUT NOT LEAST — Gold reserves rise in South Africa

South Africa’s gold and foreign currency reserves rose by 28.9% from November to December, 1993.

Figures released in Pretoria by the Reserve (central) Bank show December’s total was 9.1 billion rand (US$2.7 billion), up sharply from November’s 7 billion rand (US$2.1 billion).

Economists ascribed the improvement to a US$850-million loan by the International Monetary Fund, the first major influx of foreign funds into South Africa since the United Nations lifted economic sanctions against Pretoria last September.

Gold reserves rose 11.3%, to 5.6 billion rand (US$1.7 billion) from 5.1 billion rand (US$1.5 billion).

Foreign currency holdings increased by 73.5%, to 3.5 billion rand (US$1 billion) from 2 billion rand (US$587 million).