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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

International speakers unite to discuss diversity
2014-01-20


The Institute of Reconciliation and Social Justice is hosting a two-day colloquium on 30–31 January 2014. A broad range of keynotes will discuss the topic: ‘Diversity and the politics of engaged scholarship: A comparative study in higher education’.

Prof Jonathan Jansen, Vice-Chancellor and Rector, and Prof Dr Halleh Ghorashi from the Netherlands will lead as keynote speakers on the first day.

Prof Dr Ghorashi is a Professor of Diversity and Integration in the Department of Sociology at the Vrije Universiteit Amsterdam. She is the author of ‘Ways to Survive, Battles to Win: Iranian Women Exiles in the Netherlands and the United States’. She has also published extensively on topics such as identity, diasporic positioning, cultural diversity and emancipation.

During the second day, Dr Charles Alexander from Los Angeles and Prof Shirley Tate from Leeds will lead as keynote speakers.

Dr Alexander is Associate Vice-Provost for Student Diversity at the University of California. He has run several programmes for students who have been underserved by higher education, including students from immigrant families and underrepresented populations. In 2011, Dr Alexander received a Champions of Health Professions Diversity Award from The California Wellness Foundation in recognition of his commitment to increasing California’s health care workforce and its diversity.

Prof Shirley Tate’s work focuses, among others, on theorising ‘race’ performativity and the intersection between 'race' and gender. She has written on mixed ‘race’ identities, affect, beauty, embodiment, pain and women in prison, transracial intimacies, gendered prison identities, racial affective economies in organisations, as well as on domestic work and food.

The sessions led by these keynote speakers are open to the public and the Institution welcomes everyone to join in this topical discussion.

Date: Thursday 30 January 2014 and Friday 31 January 2014
Time: 09:00–11:00
Place: Centenary Hall
RSVP: vannestel@ufs.ac.za 

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