Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

German Ambassador speaks on universities as agents for transformation
2016-05-25

Description: German Ambassador speaks on universities  Tags: German Ambassador speaks on universities

Eva Ziegert, JC van der Merwe, Lindokuhle Ntuli, Anita Ohl-Meyer, Ambassador Walter Lindner, Tali Nates, and Prof Leon Wessels at the dialogue session hosted by the IRSJ
Photo: Johan Roux

“Change is facilitated through education, not by means of radicalism, violence, or revolution.” Speaking at the Bloemfontein Campus of the University of the Free State (UFS) on Thursday 12 May 2016, the German Ambassador, Walter Lindner, urged students to engage in profitable dialogue instead, keeping their values and ideals in mind while changing the system from the inside.

The Institute for Reconciliation and Social Justice (IRSJ) hosted a full day of dialogues and discussions, the highlight of which was a critical dialogue with Ambassador Lindner, entitled “Universities as agents of transformation in society—Germany’s experience with the student protests of the 1968 movement and the difficulties it has reconciling with its past.” This was followed by a student colloquium, hosted by the Student Representative Council, which concluded with the second in the Africa’s Many Liberations seminar series, co-hosted by the IRSJ and the International Studies Group (ISG), with the title of “Fanon and the relevance of personal and collective decolonisation in today’s South Africa”.

Mr Lindner related his experience of student protests in Germany during the late 1960s, drawing certain parallels with South Africa’s own recent protests. According to Ambassador Lindner, it is “the impatient youth that drives forward change”, but cautioned against radicalism as a long-term solution.

Pointing out the various challenges facing humankind today, such as the lack of natural resources, unbridled climate change, and population growth, Mr Lindner stated that politicians (and the youth of today) would do well to focus on these greater issues, rather than focusing on the more mundane issues with which they are faced on a day-to-day basis.

The subsequent dialogue session was facilitated by Tali Nates, Director of the Johannesburg Holocaust and Genocide Centre. A diverse array of questions and comments, both radical and more conservative, was directed at the ambassador, which he handled with unflappable aplomb.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept