Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

UFS Prestige Scholar shares her vision on crystallography with worldwide audience
2014-04-24

 
Dr Alice Brink
Dr Alice Brink, a Prestige Scholar and lecturer in the Department of Chemistry at the University of the Free State, was selected by UNESCO to participate, together with some 15 other young scientists from all over the world, in a round-table discussion at the Opening Ceremony of the International Year of Crystallography.

During this event, that took place in Paris, France, Dr Brink could, on stage, share her vision as one of the next generation of scientists.

“The 15 crystallographers consisted of eight young, established scientists and seven ‘young-young’ scientists who are starting their careers. We participated in a group discussion in order for the crystallographic community to better understand the challenges faced by young scientists across the globe.

“It was a great privilege to be invited to be part of this talented and diverse discussion group and to hear the challenges that are faced by young scientists from different parts of the world. It is also comforting to hear that scientific difficulties that are found in South Africa are commonly experienced in both First and Third World countries,” said Dr Brink.

“Crystallography has directly influenced the development of numerous scientific fields such as chemistry, physics, mathematics, medicine, engineering and material sciences. More inter-departmental collaboration would benefit greatly from crystallography, as this multi-faceted science provides foundation principles for applied research,” she said.

The United Nations declared 2014 as the International Year of Crystallography, and it was officially opened at the UNESCO Headquarters in Paris by the Secretary-General of the UN, Ban Ki-moon.

The ceremony was video-streamed live to more than 500 destinations all over the world.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept