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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

‘Leadership is formed through ethical behaviour’
2012-08-20

Mr Edward Kieswetter
20 August 2012

“Being ethical is not about what we can do, it is about what we ought to do.” This is according to Mr Edward Kieswetter, Group Executive of Alexander Forbes Limited. During his lecture to MBA students in the Business School, Mr Kieswetter allowed the audience to engage in a discussion about ethics and leadership in the business world. Mr Kieswetter is also Vice-Chairperson of the UFS Council.

Part of the lecture was discussing South Africa as a country that was not born in ethics. Mr Kieswetter commented that although context was is very important in making decisions, South African people tended to, for example, and “feed on corruption, instead of acting actively against it”. Questions about South Africa’s ethical foundation were raised. Mr Kieswetter explained that one of the greatest challenges with the South Africans was to help them understand that a person always had a choice. “If you have to compromise on your own values, you are not doing anybody justice.”

Ethics can promote common and social goals if they are not determined by what people feel and strive to reach beyond the barriers that religious beliefs put up. He shared of his life’s most valuable lessons learned about people in leadership positions. “A great leader has incredible self-awareness and displays a huge amount of humility.” He said that in life it was not about being perfect; it was rather about being authentic, even in challenging times where the outcome might affect the current situation negatively. “My greatest successes came from lessons I learned in making mistakes and growing from them.

“If you have nothing to die for, then what is there to live for?” Mr Kieswetter said when asked whether he would compromise his financial position if he did not agree with the ethics of the company he worked for. “By constantly complaining instead of progressing, we are giving up our power to change, and that is a scary thing for South Africa as a developing country.” 
 

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