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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. 

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Musical Evening with FS Youth Symphony Orchestra
2006-06-02

FS MUSICON & UFS Music Department:
A Musical Evening with FS Youth Symphony Orchestra with conductor Sjoerd Alkema and alumni Dorette Roos (cello) & Francois Henkins Jr (violin)

Date: Thursday, June 8, 2006
Time: 19:30
Venue: UFS ODEION
Admission: Free (You have to book)

Sjoerd Alkema, conductor of the FS Youth Symphony Orchestra conducts Tchaikovsky 's famous violin concerto with Francois Henkins Jr as soloist.

This also gives Dorette Roos the opportunity to perform Boccherini's virtuoso Cello Sonata in A, single movements from Barber and Shostakovich's cello sonatas and the well known Elegy by Fauré, with Dana Cilliers at the piano.

Dorette Roos en Francois Henkins, has now become confident young musicians since they have left Bloemfontein to further their studies in the United States. They are currently on holiday and are eager to show their progress to their home audience.

Tickets available from Ella Kotze (Odeion) 051 401 2810/051 401 2342
and Zelda Erasmus (Musicon) 051 430 8831/051 430 6603

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