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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

Standing in solidarity against suicide
2015-09-28


Students take collective action against the plight of suicide

Many students are battling depression, and have contemplated suicide. Some have lost the battle and, in turn, their lives. Suicide is a difficult topic to discuss and, even more challenging, to face its repercussions. The Leadership for Change (F1) 2014/2015 cohort took the initiative to change this through the TooSoon campaign.

A day after International Suicide Awareness Day, on Friday 11 September 2015, students marched in solidarity from Thakaneng Bridge to the Red Square on the University of the Free State’s Bloemfontein Campus.

The TooSoon team has forged links with the student community, Student Affairs, Student Counselling and Development, as well as the Health and Wellness offices to break the silence about the topic of suicide.

Every student has the potential to live a long and purposeful life. So, when someone ends his or her life, it is always too soon: this is the message the team is communicating. Awareness-raising was kick-started in August, with information sessions held at residences across the campus and the Bridge. The campus was plastered with posters offering emergency contact details for those in need of counselling, and culminated in the silent march.

At the end of the march, those who had already lost the battle were remembered through song and poetry. Students then pledged their support by painting their fingers with yellow paint and printing them on a canvas,,symbolising their solidarity in the fight against suicide.

 

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