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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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Varsity Cup launched at the UFS
2008-02-14

 

Eerste Nasionale Bank (ENB) het onlangs die ENB Varsitybeker-kompetisie, waarin Suid-Afrika se top-universiteite teen mekaar gaan meeding, aan die Universiteit van die Vrystaat (UV) bekend gestel.

Die Varsitybeker-konsep bestaan uit agt spanne wat op Maandae teen mekaar sal meeding, gevolg deur twee halfeindstryde en ‘n eindstryd. Die wedstryde skop 18 Februarie 2008 af en die laaste wedstryd sal op 7 April 2008 gespeel word. Die Shimlas se wedstryde (4) begin op 25 Februarie 2008 teen die Universiteit van Johannesburg en eindig op 15 Maart 2008 teen die Nelson Mandela Metropolitaanse Universiteit.

‘n ENB Varsitybeker-feestoernooi word oor die Paasnaweek in April vanjaar in George beplan waar al agt spanne elk drie ligawedstryde sal speel. ‘n Koshuis van elk van die agt spanne se universiteit sal ook die geleentheid kry om teen mekaar in George te speel. Dit sal die eerste keer in die Suid-Afrikaanse rugbygeskiedenis wees dat universiteitskoshuise in ‘n toernooi teen mekaar sal meeding.

By die loodsing was, van links: prof. Frederick Fourie (Rektor en Visekanselier van die UV), mnr. James Letuka (Direkteur: KovsieSport) mnr. Francois Pienaar (voormalige Springbokkaptein en direkteur van die ENB Varsitybeker), en mnr. De Wet Ras (KovsieSport).
Foto: Leonie Bolleurs

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