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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

Avant-garde filmmaker. Renowned feminist scholar. Revolutionary Prof Laura Mulvey.
2014-06-27

Prof Laura Mulvey – currently a professor at Film and Media Studies at Birkbeck, University of London, is about to visit the Bloemfontein Campus. As a tribute to her achievements, the UFS is bestowing an Honorary Doctorate on her during our Winter Graduation Ceremony. In addition, two events are scheduled during which the public can get to know Prof Mulvey and her films better.

Prof Mulvey is a hugely influential figure in the international arena of film and visual media. She is globally recognised as an eminent feminist film scholar and worked at the British Film Institute for many years. During the 1970s and ‘80s she exploded onto the scene as a prominent avant-garde filmmaker.

During her visit, she will discuss a film with Prof Annie van den Oever (University of Groningen) and some of her most renowned film material will also be screened.

Under the Skin of the City (Iran, 2001), directed by Rakhshan Bani-E'temad, will be screened in full on Thursday 3 July 2014. The film centres on the trials and tribulations faced by an Iranian family. This award-winning film will resonate with a South African audience because of the social issues it addresses. Prof Mulvey and Prof Van den Oever will also discuss the film afterwards.

On Saturday 5 July 2014, Prof Van den Oever and Prof Mulvey will have another discussion and the audience will be treated to snippets from her prominent films.

The details of these events are:

Date: Thursday 3 July 2014
Time: 16:00 – 18:15
Venue: CR Swart Auditorium, Bloemfontein Campus
RSVP: Elouise Johnsen, JohnsenE@ufs.ac.za, +27(0)51 401 2315 (mornings).
Refreshments will be served.

Date: Saturday 5 July 2014
Time: 17:30 – 19:30
Venue: CR Swart Auditorium, Bloemfontein Campus
RSVP: Elouise Johnsen, JohnsenE@ufs.ac.za, 27(0)51 401 2315 (mornings).
Refreshments will be served.

 

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