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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

Law students rated among the top in the world
2007-04-18

The UFS team that competed in the moot arbitration competition in Austria was, front from the left: Sunette Visser and Dee Leboela; back from left: Lucian Companie, Vicky Olivier and Deman Smit.
UFS Law students rated among the top in the world
A team of eight students from the Faculty of Law at the University of the Free State (UFS) has put the university among the top universities in the world when it was ranked 46th out of 177 universities that recently took part in the Willem C. Vis International Commercial Arbitration Moot competition in Vienna, Austria.

Universities from more than 55 countries took part in the competition and 1 800 arguments were delivered over a period of seven days. The UFS team competed against countries such as Switzerland, Russia, Lapland and France.

The team did exceptionally well in all the arguments and was complimented on oral performance and litigation skills. “In the final round, one of the arbitrators, who is a practising international trade lawyer and arbitrator, said that the team’s oral arguments were of exactly the same standard as that of practising international trade lawyers in real arbitrations,” said Prof. Elizabeth Snyman-Van Deventer, coach of the team and lecturer at the Department of Mercantile Law.

To put the cherry on top, one of the team members, Deman Smit, received an individual oralist award and an honourable mention as one of the best speakers. His score of 138 out of 150 placed him within three (3) points of the international individual winner.

The Dean of the Faculty of Law, Prof. Johan Henning said: “The fact that Deman missed out on receiving the top speaker award by a couple of points is a striking example of the world class students this faculty is delivering. It also shows that the faculty needs not to stand back for law faculties such as those of Harvard, Freiburg, Munchen, Stanford and Sorbonne.”

The Willem C. Vis International Commercial Arbitration Moot is an annual competition organised by the Institute of International Commercial Law at the Pace University School of Law in New York, United States of America. The goal of the competition is to foster the study of international commercial law and to train students in methods of alternative dispute resolution.

“The Faculty of Law also sees this competition as part of our development strategy to develop skilled arbitrators for commercial disputes. There is a need in Africa for commercial lawyers to facilitate international trade. This programme is also in line with the development strategies of the African Union,” said Prof. Snyman-Van Deventer.

The UFS team comprised of: Dee Leboela, Smit, Lucien Companie, Vicky Olivier, Sunette Visser, Qaqamba Vellem, Hanno Bekker and Lucy Nthotso.

Media release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za 
18 April 2007
 

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