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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

Student excels at international level with research in Inorganic Chemistry
2015-09-21


Carla Pretorius is currently conducting research in
Inorganic Chemistry at the St Petersburg University,
Russia.

Photo:Supplied

Carla Pretorius completed her PhD in Inorganic Chemistry recently, with a thesis entitled “Structural and Reactivity Study of Rhodium(I) Carbonyl Complexes as Model Nano Assemblies”, and has just received her results. The assessors were very impressed, and she will graduate at the next UFS Summer Graduation in December 2015.

She is currently conducting research in St Petersburg, Russia, by invitation. She is working in the group of Prof Vadim Kukushkin of the St Petersburg University, under a bilateral collaboration agreement between the groups of Prof Kukuskin (SPBU) and Prof André Roodt (Head of the Department of Chemistry at the UFS).

Her research involves the intermetallic rhodium-rhodium interactions for the formation of nano-wires and -plates, with applications in the micro-electronics industry, and potentially for harvesting sun energy. She was one of only three young South African scientists invited to attend the workshop “Hot Topics in Contemporary Crystallography” in Split in Croatia during 2014. More recently, she received the prize for best student poster presentation at the international symposium, Indaba 8 in Skukuza in the Kruger National Park, which was judged by an international panel.

Carla was also one of the few international PhD students invited to present a lecture at the 29th European Crystallographic Meeting (ECM29) in Rovinj, Croatia (23-28 August 2015; more than 1 000 delegates from 51 countries). As a result of this lecture, she has just received an invitation to start a collaborative project with a Polish research group at the European Synchrotron Research Facility (ESRF) in Grenoble, France.

According to Prof Roodt, the ESRF ID09B beam line is the only one of its kind in Europe designed for time-resolved Laue diffraction experiments. It has a time-resolution of up to one tenth of a nanosecond, after activation by a laser pulse 100 times shorter (one tenth of a nanosecond when compared to one second is the equivalent of one second compared to 300 years). The results from these experiments will broaden the knowledge on light-induced transformations of very short processes; for example, as in photochemical reactions associated with sun energy harvesting, and will assist in the development of better materials to capture these.

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