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28 January 2021 | Story Dr Nitha Ramnath | Photo Sonia Small
Prof Phillippe Burger.

The COVID-19 pandemic has disrupted the entire world, claiming more than two million lives and sparing no region. The world is confronted with urgent unsolved challenges, with the poor and vulnerable populations, low-skilled workers, and refugees most affected. 

These challenges will be addressed by the Lancet COVID-19 Commission and its various task forces, one of which is the Fiscal Policy and Financial Markets task force. Prof Philippe Burger, Professor of Economics and Pro-Vice-Chancellor: Poverty, Inequality and Economic Development at the University of the Free State, serves as a member of the commission’s Fiscal Policy and Financial Markets task force. The eleven members of the task force include two Nobel prize laureates in economics, as well as academics and public-policy specialists from across the world, under the co-chairpersonship of Dr Vitor Gaspar (Director of the Department of Fiscal Affairs at the IMF) and Prof Felipe Larraín (Professor of Economics, Pontifical Catholic University of Chile and former Minister of Finance of Chile).

The commission is an interdisciplinary initiative across the health sciences, business, finance, and public policy, and was created to help speed up global, equitable, and lasting solutions to the pandemic. The work of the commission is divided into 12 task forces, each composed of members from diverse disciplinary interests, geographies, and identities. These task forces provide support in areas ranging from vaccine development to humanitarian relief strategies, to safe workplaces, to global economic recovery. 

Key aims of the commission is to speed up awareness and the worldwide adoption of strategies to suppress transmission, as well as to ensure that COVID-19 vaccines and key technologies are equitably accessible across the world.

The Fiscal Policy and Financial Markets task force will consider fiscal and financial issues related to the pandemic affecting advanced, emerging market, and developing economies. Based on evidence and best practices, the task force will provide recommendations on managing the effects of the pandemic and will also manage the transition to a resilient, smart, inclusive, and green growth path. Issues related to fiscal sustainability as well as debt relief in poor countries are on the task team’s agenda.

Many multilateral institutions such as the WHO, the IMF, the World Bank, the Food and Agricultural Organisation of the UN, the UN World Food Programme, the UN Educational, Scientific and Cultural Organisation, the Organisation for Economic Co-operation and Development, and others face profound challenges in undertaking their crucial missions to coordinate the global response to the pandemic. The Lancet COVID-19 Commission also aims to make recommendations to strengthen the efficacy of these critical institutions. Moreover, the commission reaches out to regional groupings, including the African Union, the Association of Southeast Asian Nations (ASEAN), the Southern Common Market (MERCOSUR), and others, to support the efforts of these bodies in fighting the pandemic. 

The Lancet COVID-19 Commission and its task teams include leaders in health science and healthcare delivery, business, politics, and finance from across the world. They volunteer to serve in their individual capacities – not as formal representatives of their home institutions – and will work together towards a shared and comprehensive outlook on how to stop the pandemic and how best to promote an equitable and sustainable recovery. 

News Archive

Kovsie Biggest Braai a huge success
2017-08-30

 Description: Braai Tags: Kovsie Biggest Braai, Kovsie, International Student Council 

Prof Francis Petersen, also attending the braai, is here being
interviewed by one of our #KovsieCyberStas, Thuli Molebalwa.
Photo: Charl Devenish

Even though Braai Day is celebrated nationally in September, students at the University of the Free State (UFS) had their own braai day. The Kovsie Biggest Braai was the biggest student community event of the year.

Takudzwa Nyamunda of the International Student Council said the idea for the braai came from the International Student Association as a social cohesion event for international students. “When the idea was presented to my office we realised the potential for such an initiative to be not just for students but for the whole Kovsie community.”  

They realised there were not a lot of social cohesion events on campus where students and staff could just take a day to relax and embrace the feeling of being a Kovsie. He said he believed the braai could provide the right platform. The main objective of this project was to make it an institutional event with aspects of fundraising for the future. 

Colleges made KBB a success 
An estimated 3500 people attended the festivities on Red Square on 12 August. “We used the college format for the braai and it was set in the form of a challenge between the five colleges, but one of the colleges pulled out,” Takudzwa said. The colleges that did participate made a big contribution towards the success of the event and did all the braaing and selling. 

Creating new Kovsie traditions 
The idea behind the pilot project is that it becomes an annual event which in turn will form part of a new Kovsies tradition. “It received endorsement from top management therefore I believe it will form part of the Kovsie calendar for years to come,” Takudzwa said. 

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