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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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International Year of Crystallography attracts science experts from across the globe
2014-10-13



Video: Discover what Chrystallopgraphy can do for you
Video: Celebrating Crystallography: An Animated Adventure

Summit programme

The third world summit in the International Year of Crystallography (in Africa) will be hosted by the UFS Department of Chemistry here on the Bloemfontein Campus. Prof André Roodt, Head of the Department of Chemistry, was elected as the President of the European Crystallographic Association in 2012. Earlier this year he unveiled the Max von Laue 'Plaque' in Posnan, Poland.

The Pan-African Meeting of the International Year of Crystallography consists of a congress and summit. The details are as follows:

Congress
12–15 October 2014
CR Swart Senate Hall, UFS Bloemfontein Campus

Summit

15–17 October 2014
CR Swart Senate Hall, UFS Bloemfontein Campus
Summit opening: Wednesday 15 October 2014 at 14:00 in the CR Swart Senate Hall

This event will be opened and attended by:
•    the UFS Rector and Vice-Rector – Profs Jonathan Jansen and Corli Witthuhn;
•    the acting Director-General of the Department of Science and Technology – Dr Thomas Auf der Heyde;
•    the acting CEO of the National Research Foundation – Dr Gansen Pillay;
•    the UNESCO Vice-Director for Science Extension – Dr Jean-Paul Ngome-Abiaga (Paris, France);
•    the representative of the Executive Committee for the International Union of Crystallography (IUCr) – Prof Santiago Garcia-Granda (Oviedo: Spain);
•    the marketing director of the IUCr – Prof Michele Zema (Pavia, Italy);
•    the President of the European Crystallographic Association (ECA) – Prof André Roodt, who will officially open the summit on Wednesday 15 October 2014 from 14:00–15:30.

Presenters from across Africa and Europe will deliver papers at this event which will be attended by more than 100 delegates from twenty-plus countries, including Spain, France, Italy, Croatia, Germany, Russia and India.

Numerous crystallographic research areas will be covered. This includes:
•    powder diffraction,
•    small molecule crystallography,
•    biological crystallography,
•    industrial crystallography,
•    surface crystallography,
as well as techniques such as
•    electron microscopy and
•    synchrotron work.

“At this event we hope to establish an African Crystallographic Association,” said Prof Roodt.

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

The International Year of Crystallography celebrates the centennial of the work of Max von Laue and the father and son, William Henry and William Laurence Bragg. More generally, it celebrates what crystallography can do for humanity – which proves to be a significant amount.

 

 


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