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04 August 2020 | Story Dr Nitha Ramnath

Apart from its devastating impact on people’s lives and livelihoods, the COVID-19 pandemic has also affected the nature and quality of our democracies – democracy read in its widest sense here as collective and individual self-determination. Formal, institutional democracy has beencurtailed through the imposition of states of emergency or disaster and the logistical difficulties associated with social distancing. Extra-institutional democratic work, such as protest and social-movement activity, has suffered from prohibitions imposed by law and through state suppression related to ‘lockdown’. The nature (and perhaps democratic quality) of public conversation has changed – for better or worse – from increasing reliance on ‘science’ and ‘scientists’ to justify public choices. The crisis has brought to the fore already existing characteristics of our democracies, such as the prevalence and power of special-interest bargaining, the extreme inequality of our societies, and chauvinist nationalisms that force us to ask whether we have ever had democracy at all. What will be the long-term effects of these impacts of the crisis on our democracies? What will democracy look like post-COVID? What does the crisis teach us about what our democracies have always been?

Join us for a discussion of these and other democracy-related issues in these troubled times by a panel of four hailing from Colombia, India, South Africa, and the USA.

Date: Thursday, 13 August
Time: 14:00-16:00 (South African Standard Time – GMT +2)

 

Please RSVP to Mamello Serasengwe at serasengwemsm@ufs.ac.za no later than 12 August 2020 upon which you will receive a Skype for Business meeting invite and link to access the webinar

Panel

Prof Natalia Angel Cabo (University of Los Andes, Bogota, Colombia)

Dr Quaraysha Ismail-Sooliman (University of Pretoria, Pretoria, South Africa)

Dr Usha Ramanathan  Independent Law Researcher  (Delhi, India)

Prof Katie Young (Boston College, Boston, USA) 

Moderator

Prof Danie Brand (Free State Centre for Human Rights, University of the Free State, Bloemfontein, South Africa)   




News Archive

Deputy Governor of SA Reserve Bank inspires students
2016-08-19

Description: Deputy Governor of SA Reserve Bank  Tags: Deputy Governor of SA Reserve Bank

Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.

Photo: Siobhan Canavan

Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.

According to Groepe, we are currently living in challenging times as central banks are called on to do more.

“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.

How central banks contribute to inflation

There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.

According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.

“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.

A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.

Furthermore, the 12% government debt renders a negative yield in the economy.

The stability of finances in South Africa


Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.

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