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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

Alexander Ramm Cello Recital with Pieter Jacobs (piano)
2016-04-15

Description: Ramm Tags: Ramm

Alexander Ramm

“Ramm plays with enormous musical authority. Unlike many young instrumentalists, he is not intimidated by the reflective or the elegiac; nor is he nervous about the length of pauses, or the creation of inter-phrase silence. He has a phenomenal technique and he demonstrated it to full effect in this captivating performance.” (Cape Times)

Alexander Ramm belongs to the new generation of cellists recognised for his appealing artistic creativity and unprecedented technical skills. Alexander started his musical education at the age of seven at the Glier music school (Kaliningrad) with Svetlana Ivanova. Her extremely serious attitude to music studies and pedagogical talent revealed the rare musical capabilities of this young cellist.

After moving to Moscow at the age of ten, he was accepted to the class of Maria Zhuravleva at the Chopin Moscow College of Music Performance. From 2007, he continued his professional education at the Moscow Conservatory in the class of the renowned musician and the People’s Artist of the USSR, Natalia Shakhovskaya, an outstanding performer and pedagogue who taught most prominent Russian cellists. Since 2012, he has become a postgraduate student at the Hanns-Eisler Hochschule fur Musik under the guidance of the famous cellist, Frans Helmerson.

From the age of nine, when he made his debut as a soloist with the Kaliningrad Chamber Orchestra, Alexander brilliantly performs with solo programmes and as a soloist with leading orchestras in Russia and worldwide.

He is prizewinner at several international competitions:
1st prize: 4th Moscow Competition for young cellists (2003)
1st prize: 1st Cambridge International Boston Competition (Massachusetts, 2005)
Grand-Prix: Moscow Festival of Romantic Music (Moscow, 2006)
4th prize: 5th UNISA International String Competition (South Africa, 2010)
1st prize: 3rd Beijing International Music Competition (Beijing 2010)
1st prize: 1st All-Russia Music Competition (Russia, 2010)
Prizewinner: Janigro Cello Competition (Croatia, 2012)
Prizewinners: Swedish Duo Competition with duo partner Anna Odintsova (2012)
3rd prize: Paulo Cello Competition (2013) – becoming the first Russian prizewinner in the history of this prestigious contest
2nd prize: XV International Tchaikovsky Competition (2015)

Alexander participated in masterclass festivals at Courchevel Academy and Holland Music Sessions, where he took lessons from the famous musicians such as F. Muller, R. Latzko, M. Kliegel and U. Wiesel. In 2011, he took part in the well-known Verbier festival, where he studied with H. Hoffmann, F. Helmerson, M. Suzuki, L. Power and F. Radosh. At the end of the festival, he was awarded the Neva Foundation top-level prize for gifted students.

Alexander cooperates with such outstanding conductors as V. Gergiev, V. Spivakov, A. Levin, K. Orbelyan, V. Polyansky, S. Kochanovsky, M. Fedotov, A. Slutsky, A. Sladkovsky.

He will be accompanied by Pieter Jacobs, a graduate of the University of Pretoria, who then furthered his studies at Yale in the United States, where he pursued his performing career with considerable success as a soloist and chamber musician in Boston, Cambridge and New Haven before returning to South Africa to perform and teach at the University of Pretoria. Pieter is regarded as one of SA’s foremost pianists and chamber musicians.

Programme:

Grieg: Cello Sonata, Op. 36 in A minor (1883)
Barber: Cello Sonata, Op. 6 in C minor (1932)
Prokofiev: Cello Sonata, Op. 119 (1949)
Piazzolla: Le Grand Tango for cello and piano

Date: 22 April 2016
Time: 19:30
Venue: Odeion
Costs: R130 (adults), R90 (pensioners), R70 (UFS staff members), R50 (students and learners), R50 (group booking of 10+). Tickets available at Computicket.

More information: Ninette Pretorius +27(0)51 401 2504.

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