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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

The universal power of music and song to convey the unspeakable
2015-05-07

Philip Miller
Photo: Johan Roux

Spotlight photo: John Hodgkiss

Philip Miller, award-winning composer and sound artist, recently delivered the second instalment of the Vice-Chancellor’s Lecture Series on Trauma, Memory, and Representations of the Past on the Bloemfontein Campus. This lecture series forms part of a five-year research project led by Prof Pumla Gobodo-Madikizela. The series focuses on how the creative arts represent trauma and memory, and how these representations may facilitate the healing of historical wounds.

Disrupting the Silence: The Past and Transnational Memory
In Miller’s lecture, ‘Disrupting the Silence: The Past and Transnational Memory’, he discussed the creative process – and the far-researching effects – of his composition: ‘REwind: A Cantata for Voice, Tape and Testimony’. The production consists of 4 soloists, an 80- to 100-member choir, a string octet, combined with gripping projected images and audio of victims testifying during the Truth and Reconciliation (TRC) hearings.

While listening to those raw recordings, Miller would rewind continually and listen again. In between the sounds of the tape stretching and spooling, sighs, gulps for air, and moments when the speakers lost their speech, a hidden sound world revealed itself. And within these silences lay an entrenched trauma far more profound than the actual words spoken.

Communal remembering
When Miller asked Nomonde Calata how she felt about his using the recording of her heart-rending cry during her TRC testimony, her reply was poignant. For Calata, her cries – taken over by the voice of Sibongile Khumalo during the cantata – were a living memorial to her loving husband. “And it almost felt like a soothing balm to her traumatic loss,” Miller said.

“I believe that a collective body of people singing is a unique symbolic act of communal remembering. But more than that, it is a deep form of identification of our humanity, and allows for some form of catharsis for those testifiers who have attended the live performances. Just as a parent sings a lullaby to calm a crying child, the choir singing reaches those of us who continue to mourn.

“Music and song – and the arts in general – can convey the powerful stories of our nation without fearing to engage with the subject matter,” Miller said. “This I believe is the universal power of music and song: to convey a spiritual dimension to what perhaps is sometimes too graphic and painful to comprehend fully.”

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