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06 March 2020 | Story Valentino Ndaba | Photo Stephen Collett
Lesetja Kganyago, Governor of the South African Reserve Bank
Reserve Bank Governor, Lesetja Kganyago, presented a public lecture at the UFS on 4 March 2020.

With a 7% fiscal deficit on the Gross Domestic Product (GDP) projected by the National Treasury for the 2020/21 financial year, it would not take long to arrive at a dangerous level of debt at the rate that South Africa is borrowing. Although the South African Reserve Bank Governor, Lesetja Kganyago, does not consider a debt to GDP rate of 60% a disaster, he did express his concern regarding the country’s fiscal deficits being over 6% of the GDP.

Governor Kganyago presented a public lecture at the University of the Free State (UFS) on 4 March 2020, focusing on how we should use macro-economic policy and its role in our economic growth problem.

Unsustainable policies 
South Africa’s fiscal situation is not about tight monetary policy. According to the Governor: “Weak growth is endogenous in our fiscal problems. We cannot keep doing what we are doing and hope that growth will recover and save us. Growth is low, in large part, because of unsustainable policy.”

Avoiding an impending crisis
To address the problem, as a policymaker with more than 20 years’ experience, the Governor suggested that the recommendations made by Minister Tito Mboweni be taken into consideration. “The Minister of Finance, Tito Mboweni, is a man who says things that are true even when they are unpopular. His message is that we have to reduce spending and he is right to put this at the centre of our macro-economic debate,” said Governor Kganyago.

The state needs a radical economic turnaround strategy which is able to diminish the risk of losing market access and being forced to ask the International Monetary Fund for help. Governor Kganyago is positive that such a reformative tactic would go beyond monetary policy and ensure that the interest bill ceases to claim more of South Africa’s scarce resources. 

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UFS cardiac team does pioneering work
2017-10-29

Description: ' 000 Cardiac Pioneers Tags: Cardiac Pioneers 

“With the use of endomyocardial biopsies, the team hopes to treat viruses unique
to Southern Africa, as well as other underlying causes of dilated cardiomyopathy.”

Photo: iStock

Members of the University of the Free State’s (UFS) Cardiac team had various achievements at national and international level this year. The Robert WM Frater Cardiovascular Research Centre in the Faculty of Health Sciences has commenced with a pioneering research project regarding idiopathic dilating cardiomyopathy.

With an Afrocentric research focus, Prof Francis Smit, Head of the Department of Cardiothoracic Surgery at the UFS and Head of the Frater Centre, describes dilating cardiomyopathy as a heart muscle disease that is quite common, particularly among people of African descent. The disease weakens the heart muscle, which in turn leads to heart failure.

“To date there is no curable treatment for this condition, and 50% of patients who have shown heart failure, died within a period of five years. The causes of this condition have been unknown in the majority of patients. But over the past few years major strides have been made, where virus infections of the heart muscle, or myocarditis, have been identified as a possible underlying cause. Various genetic diseases are also linked to it,” says Prof Smit.

According to Prof Mokoali Makotoko, Head of the Department of Cardiology, more than 1 500 new cases of heart failure are identified at the Universitas Academic Hospital annually, of which approximately 30% are attributed to cardiomyopathy. “With the use of endomyocardial biopsies, the team hopes to treat viruses unique to Southern Africa, as well as other underlying causes of dilated cardiomyopathy.”

The study is a project that flows from Prof Makotoko’s PhD. The project is being run with Prof Heinz-Peter Schultheiss of the Charité University and the Institute for Cardiac Diagnostics and Therapy in Berlin, Germany.

 "More than 1 500 new cases of heart failure are identified at the Universitas Academic Hospital annually, of which approximately 30% are attributed to cardiomyopathy."

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