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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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Dr Johann Rossouw receives 2015 ATKV SA Academy Award for his work in Philosophy
2015-12-18

Description: Dr Johann Rossouw  Tags: Dr Johann Rossouw

Dr Johann Rossouw

Dr Johann Rossouw, Senior Lecturer in the Department of Philosophy at the University of the Free State, was recently selected as one on the winners of the 2015 ATKV SA (Afrikaanse Taal- en Kultuurvereniging) Academy Awards. Dr Rossouw was one of only six winners that were honoured nationwide for their academic articles.

ATKV SA Academy Award

This award has immense value for Dr Rossouw, since “it’s proof that original endemic thinking is still valid today, despite the massive pressure on Afrikaans. It also undermines the parochial view that English is the only language in which thought takes place.”

The annual ATKV SA Academy Awards honours six Afrikaans articles that are published in accredited journals in a specific year. Four of the prizes are awarded for articles in the Humanities and two for articles in the Natural Sciences. The South African Academy for Science and Arts handled the selection process.

First theological-philosophical criticism on Stiegler

Dr Rossouw was honoured for two articles in the Humanities that were published on Litnet Academic. The articles deal with the theological-philosophical approaches of the first two volumes of Bernard Stiegler's influential La Technique et letemps (Technics and Time) trilogy. “Stiegler wrote the trilogy in conversation with Heidegger's Being and Time,” Dr Rossouw says. “With Heidegger claiming that the technique closes off our world, Stiegler argues that the technique helps to unlock and establish our world as a unique kind of memory in certain conditions. That is why Stiegler argues that the technique is the life lived through other means than life itself.”

The essence of Dr Rossouw's criticism against Stiegler is that he “pursues Christianity through means other than Christianity itself. To my knowledge, this is the first theological-philosophical criticism on Stiegler, and to all intents and purposes the first criticism on his work, with one or two exceptions.”

 

 

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