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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

Pansalb’s Language Rights Monitor Project launched at the UFS
2007-01-25

 

 Attending the launch of the Language Rights Monitoring Project were, from the left: Mr Edward Sambo (acting head of Pansalb), Prof Engela Pretorius (Vice-Dean of the Faculty of the Humanities at the UFS), Prof Theo du Plessis (Director: Unit for Language Management at the UFS) and Mr Vusi Ntlakana (head of the Free State provincial office of Pansalb).

 
 Pansalb’s Language Rights Monitor Project launched at the UFS
 
The Unit for Language Management at the University of the Free State (UFS), in collaboration with the Pan-South African Language Board (Pansalb), today launched the Language Rights Monitor Project on the Main Campus in Bloemfontein.
 
In accordance with the Pansalb Act of 1995, Pansalb is responsible for the promotion and protection of language rights in South Africa, and is the chief funder of the project.          
 
The Language Rights Monitor Project was initiated in 2002 for a trial period of three years, with the aim of reporting to Pansalb, on an annual basis, on language-rights issues in South Africa, as reflected mainly in the printed media.
 
Since then, three reports have already appeared, covering various aspects relating to language rights, including, inter alia, language-rights complaints, language-rights issues, language litigation, as well as research on language rights in South Africa. Profs Johan Lubbe and Theo du Plessis, as well as Dr Elbie Truter, all associated to the UFS, were responsible for the compilation of the first three reports.
 
During 2006, Pansalb decided to establish the project for an unspecified period of time at the Unit for Language Management at the UFS. It is precisely for this reason that the project is being launched. The South African Language Rights Monitor will henceforth appear annually as a prestige publication of Pansalb, compiled by staff associated with the Unit.
 
However, Pansalb has also decided to further consolidate the project, as a result of the need for a more immediate report, as well as the need to include records drawn from newspapers published in the African languages. It was therefore decided that, as from September 2006, a monthly South African Language Rights Bulletin would also be launched. 
 
Such a bulletin would provide an overview, on a monthly basis, of developments in South Africa concerning language rights, and would enable Pansalb to become more actively involved in crisis situations in which mediation is urgently needed. Two monthly bulletins have already appeared, and were favourably received by Pansalb. During the launch of the project, this bulletin was also introduced to the public for the first time.
 
With the official launch of Pansalb’s Language Rights Monitor project in the Free State, emphasis will be placed on the leading role played by this province, and more specifically by the UFS, in the development and implementation of a multilingual policy.
 
In future, more information on the situation regarding language-rights issues in South Africa will be made available from Bloemfontein, for the benefit of South Africa’s language-rights watchdog, Pansalb, but also for the benefit of other institutions involved in language-rights issues.
 
A constructive contribution will thus be rendered to the cultivation of language justice, an important element of the democratisation process in South Africa.
 
Issued by:
Prof Theo du Plessis
Unit for Language Management, UFS
 
 
Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
24 January 2007

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