The Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, engaged in productive talks with his Moroccan counterpart, Madam Nadia Fettah, in Rabat on Tuesday, December 10, 2024. The discussions centered on strengthening bilateral cooperation, focusing on public financial management (PFM) training and other key areas.
The two ministers agreed to sign a Memorandum of Understanding (MOU) to facilitate collaboration in PFM, including support and training in tax administration, customs, debt management, cash management, and more. A press release from the Ministry of Finance and Development Planning (MFDP) on December 12, 2024, outlined that the MOU aims to bolster the capacity of Liberian professionals in the Ministry of Finance and Development Planning (MFDP) and the Liberia Revenue Authority (LRA) by enabling them to work closely with their Moroccan counterparts, share experiences, and enhance their skills for more effective and efficient service delivery.
In addition to PFM cooperation, the two ministers discussed ongoing collaboration between Liberia and Morocco in education, agriculture, fisheries, and ports. They agreed to scale up support to both countries’ relevant ministries and entities to achieve shared goals and objectives.
Earlier in the week, Minister Ngafuan participated in a high-level panel discussion on “Patient Capital for Critical Infrastructure” at the African Finance Summit (AFIS) in Casablanca alongside the Togolese Minister of Finance and other prominent financial experts across Africa. During the discussion, Minister Ngafuan highlighted key factors that hinder countries’ ability to attract patient capital, including political instability, a weak legal and regulatory environment, and a lack of contract enforcement. He stressed that patient capital, essential for long-term infrastructure financing, becomes unstable when the political, legal, and economic environments fail to instill investor confidence.
