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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

Theatre, photography, literature, and lectures: TFR Studies to showcase their success
2016-11-29

The end of the year usually introduces a mood of reflection on what was and what could have been. For Trauma, Forgiveness and Reconciliation (TFR) Studies at the University of the Free State, the past year recalls a flourish of achievements worth celebrating.

Therefore, TFR Studies held an end-of-year event to showcase the successes of 2016. This comprised lectures from leading researchers in social sciences and housing rights, the release of three new books, a theatre production, and a photo exhibition.

Description: TFR Studies to showcase their success Tags: TFR Studies to showcase their success

Lectures
Prof Anthony Collins – a leading scholar in identity and culture – will speak about violence in contemporary South Africa. Prof Collins, who holds a PhD from the University of California, Santa Cruz, has extensive knowledge in the interdisciplinary area of critical social sciences and won two national awards for teaching and learning.

In addition, housing rights activist Faeza Meyer will share her experiences of forced eviction and violence in Kapteinsklip, Western Cape. She will also talk about the process of documenting these experiences and working together with feminist historian Koni Benson.

New books
Breathe in the smell of fresh ink as Dr Samantha van Schalkwyk, Dr Kim Wale, and PhD candidate Naleli Morojele introduce their books to the public. Themes of violence and gender – pertinent to South Africa – thread through each of these books in unique ways.

Theatre
The award-winning play, AVU – directed and produced by Michelle Hoffman who is a master’s student at TFR – will be performed. The story dances between the blurry lines of reality and fantasy, between Boer and Bantu.

Photo exhibition
Lerato Machetela, a PhD candidate with TFR, has featured as one of SA’s Heroes for her work among the youth of Jagersfontein. Through an innovative method, Machetela is employing an arts-based approach to research through PhotoVoice. The result: a photo exhibition by the youth of Jagersfontein – and a rare opportunity to see the world through the eyes of a child.

 

Photo: Jagersfontein Diamonds in the Rough gumboots group, production still of AVU, and Prof Pumla Gobodo-Madikizela with the PhotoVoice exhibit.

 

 

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