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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. 

News Archive

Memorial lecture: Language and language activism in a time of transformation.
2005-05-11

The Faculty of the Humanities at the University of the Free State (UFS) will present the 24th DF Malherbe Memorial Lecture on Wednesday 18 May 2005 at 19:00 in the CR Swart Auditorium on campus.

 

The lecture will be delivered by Proof. Hennie van Coller and Jaap Steyn and the title is “Language and language activism in a time of transformation”.

 

Prof van Coller is a distinguished professor and head of the Department of Afrikaans and Nederlands, German and French at UFS. Prof Van Coller has had more than 100 academic articles published in accredited journals and books; he has been author, co-author or editor of 17 books, and has delivered more than 50 lectures at conferences in South Africa and abroad. He has been awarded the Gustav Preller Prize by the SA Akademie vir Wetenskap en Kuns and the Elizabeth Eybers Prize.  Prof van Coller was recently elected as chairperson of the Akademie.

 

Prof Steyn has written numerous articles in academic journals, a collection of poems, and several prose works, including Tuiste in eie taal, a study in the politics of language, and biographies of NP van Wyk Louw, MER and PJ Cillié. His work has been widely acclaimed.  Among his many awards are the following from the SA Academy: the CJ Langenhoven Prize for linguistics, the Stals Prize for historiography, the NP van Wyk Louw medallion for a valuable contribution to a field of study; the Elisabeth Eybers Prize and the Eugène Marais Prize for a debut work (the volume of poems Die grammatika van liefhê).

 

Enquiries can be directed to Ms Joan Nel at (051) 401-9301.

 

Media release

 

Issued by:                     Lacea Loader

                                    Media Representative

                                    Tel:  (051) 401-2584

                                    Cell:  083 645 2454

                                    E-mail:  loaderl.stg@mail.uovs.ac.za

 

11 May 2005

 

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