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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

Kovsies in top four in Global Business Challenge
2015-05-06

Photo: Mark Steenbok (Bloemfontein Courant) 

 

Christiaan Paulsen (team leader), Sias Conradie, Jannie de Wet and Frikkie Jacobs.

Four Kovsies in the Department of Mathematical Statistics and Actuarial Sciences are one of the top four teams in the Chartered Institute of Management Accountants’ (CIMA) Global Business Challenge. 178 teams registered to participate in the competition.

 

Team Bernoulli from the UFS will compete against two teams: one from the University of Pretoria and one from the Chartered Accountant Training Institute in Sandton. The winning team will win a trip to Poland, Europe to represent their university and country at the 2015 global final.

 

This international business competition is for undergraduates around the world, designed to bring out the best in the young business leaders of tomorrow.

 

Team leader, Christiaan Paulsen, said: “We are overjoyed to be in the final. However, our true success is in what we learned along the way”.

 

The team has to present a business case study, showcasing their talent in business management. During this competition, the team has

  • learned to analyse and solve a real-life business case study;
  • -obtained first-hand experience of the skills required to be a business leader;
  • enhanced their team building skills; and 
  • developed their presentation skills.  

Students from Australia, Bangladesh, China, Ghana, Hong Kong SAR, India, Indonesia, Ireland, GCC, Malaysia, Myanmar, Nepal, New Zealand, Nigeria, Pakistan, Phillipines, Poland, Russia, Singapore, South Africa, Sri Lanka, Thailand, Ukraine, United Kingdom, Vietnam, and Zambia are taking part in the competition.

 

This competition is organised by CIMA in conjunction with Barclays.

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