South Africa has not experienced a sovereign debt crisis since the advent of democracy in 1994. However, it did face a debt crisis in 1985, during the struggle against apartheid. This crisis, in the first instance, was an inter-bank crisis more than a sovereign debt crisis because the apartheid regime, which was largely unable to borrow on international markets due to sanctions, had relied on commercial banks to raise funds on international markets. The crisis was also as much a political as a financial crisis and, in fact, helped contribute to the downfall of apartheid. Despite these unusual features, the 1985 crisis offers a number of lessons about human rights and the management of sovereign debt crises that are still relevant today. This chapter, after a short description of the 1985 South African crisis and its management, explores the lessons that can be learned from this experience and their applicability to sovereign debt crises in emerging markets and developing countries today.