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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

UFS academics to present papers at Conference on Calvin Research
2010-07-05

Prof. Dolf Britz, Director: Jonathan Edwards Center Africa at the UFS, will be one of three UFS keynote speakers at the 10th International Congress on Calvin Research.
Photo: Provided


Three scholars from the University of the Free State (UFS) were invited to participate as keynote speakers at the 10th International Conference on Calvin Research that will be hosted by the UFS from 22-27 August 2010. 

“Hosting this conference is seen as an exceptional achievement since the conference represents an international, high-profiled and specialised research community where invitation to present research results is based on proven academic outputs, innovation and original research,” said Prof. Dolf Britz, Director: Jonathan Edwards Center Africa at the UFS. Prof. Britz will, as keynote speaker, present a paper on Calvin's exposition of a Biblical text that played a significant role in the ‘Freedom Struggle’ in South Africa.

The programme for the Conference on Calvin Research also provides for two workshops specially designed for postgraduate students. This will be facilitated by international scholars and the focus will be on research methodology and the academic competencies to write a dissertation.

A student from the UFS, Rev. Ntabanyane Tseuao, was selected to present a short paper at the conference. He is one of three postgraduate students who are from the Theological University Apeldoorn in the Netherlands and the University of Tübingen in Germany, respectively.

Prof. Erik de Boer, an Extraordinary Professor and Research Fellow at the UFS and Mr Eric Kayayan, a Research Fellow at the UFS, will also be keynote speakers at the conference.

Two other academics from the UFS, Prof. Adriaan Neele, an Extraordinary Professor and Research Fellow and Dr Victor d’Assonville, a Research Fellow, will also present papers.

The participation of these academics in the conference is the result of an initiative that started eight years ago to cluster South African research on Classical and Reformation Theology at the University of the Free State. - Leonie Bolleurs

 

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