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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

Gaza doctor speaks of hope and courage
2011-10-21

 
An emotional Dr Izzeldin Abuelaish talks about the loss of his three daughters 
Photo: Johan Roux

Listen to Dr Abuelaish's public lectures (audio)

In 2009 Israeli forces bombed the house of Palestinian doctor Izzeldin Abuelaish killing four people: three of his daughters and a niece. Speaking about this life-changing event, Dr Abuelaish delivered two public lectures at the University of the Free State (UFS) this week spreading the message of hope and peace.

Dr Abuelaish, who was introduced as the Nelson Mandela of Palestine by Prof. Jonathan Jansen, Vice-Chancellor and Rector, spoke emotionally about the loss of his daughters Bessan, Aya and Miyar.  He told the audience that there was no reason for them to be killed. His girls were armed with love, hope and education.

He urged people to have moral courage and encouraged them to strive for justice, truth and peace. When there is justice and truth, peace is a consequence. “As a medical doctor I never lose hope. By the end of this world we will forget what enemies did, but will never forget the silence of brothers.”

Dr Abuelaish spoke passionately about the role of women in society and said a country develops by how much it invests in women’s education. “We must realise the strongest members in a community are women. Women maintain the hope.”

Speaking about his life in the war, being born Palestinian, Dr Abuelaish said it was painful to hear that Palestinians are numbers and statistics. “When a soldier is killed in Iraq or another place, the screen speaks for days about what he ate and what he hoped for, others are figures and numbers.”

Dr Abuelaish, who wrote the book I shall not hate, A Gaza Doctor’s Transformational Journey of loss, Love and Change, said the death of his daughters made him stronger and more focused not to give up. “I swore to my daughters and God not to rest, I fully believe I will meet them one day. I will meet them with the big gift of justice.”  

Visit the website www.daughtersforlife.com to read more about Dr Izzeldin Abuelaish.

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