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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

Establishment of International Institute for Diversity gains momentum
2009-03-30

 
Prof. Teuns Verschoor, Acting Rector of the UFS, and Prof. Allen
Photo: Supplied
Prof. Josephine Allen, Emeritus Professor at Cornell University, USA, met with representatives of executive management, staff and students of the University of the Free State (UFS) during March as part of a consultative process with the university community in the establishment of the proposed International Institute for Diversity (IID).

The establishment of the IID follows the closure of the Reitz Residence in 2008. The Institute will be established on the same premises. The IID is envisaged as a centre of academic excellence for studying transformation and diversity in society – a living laboratory for combating discrimination and enabling and enhancing reconciliation in societies grappling with the issues of racism, sexism and xenophobia.

It is planned that the IID will be a multidisciplinary and multidimensional Institute with institutional governance and research responsibilities in the broad context of diversity management, and a fundamental commitment towards inclusiveness.

Prof. Allen said: “The consultation process is an important aspect of the establishment of the IID to ensure that all institutional stakeholders contribute to the project from beginning to end.”

Prof. Allen will continue her Fulbright Fellowship at the UFS this year, following an initial research period of six months in 2008.

A number of senior specialists will join UFS for different periods during 2009 and 2010, with major support from the USA Embassy and the Fulbright Programme in South Africa, to assist and advise on the establishment and roll-out of the IID.

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