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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

Meet Dr Aliza le Roux, Prestige Scholar
2013-07-10

 

Dr Aliza le Roux
Ground-breaking research on gelada ape made waves.

Photo: Sonia Small
10 July 2013


Dr Aliza le Roux is an NRF Y2-rated senior lecturer in the Department of Zoology and Entomology on the Qwaqwa Campus. She joined the Vice-Chancellor’s Prestige Scholars Programme (PSP) in 2013.

Dr le Roux has devoted the past decade to research on the cognitive and communicative skills of wild mammals in the arid regions of South Africa and the highlands of Ethiopia.

She spent four years as postdoctoral research fellow at the University of Michigan, leading to ground-breaking work on the cognitive and communicative underpinnings of gelada monkey behaviour. This was published in Nature Communications and created waves in the international scholarly community.

Most recently, Dr le Roux has focused on the paternal care of an eccentric canid– the bat-eared fox. She is convinced that we have much to learn about ourselves from animals outside the primate order. This unusual little fox eats mainly termites, and males – rather than females – take care of the offspring. The reason why, is still a mystery Dr le Roux hopes to unravel. Little is known about the physiological stress that foxes face, or how paternal care affects the father, the mother, and the pups. Even in humans, the true impact of paternal care is poorly understood.

With this ground-breaking project, Dr le Roux hopes not only to describe the ecology and physiology of fatherhood, but also how a father’s care can affect the cognitive development of his offspring.

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