The Ministries of Finance of Liberia and Sierra Leone have reaffirmed their commitment to strengthening collaboration in public financial management (PFM).
Liberia’s Minister of Finance, Augustine Kpehe Ngafuan, and his Sierra Leonean counterpart, Sheku Ahmed Fantamadi Bangura, agreed to consolidate efforts in areas such as debt management, budgeting, treasury management, Integrated Financial Management Information Systems (IFMIS) implementation, tax policy, and other critical PFM sectors.
This renewed partnership aims to resuscitate the Liberia-Sierra Leone Joint Partnership in PFM, a framework that previously facilitated peer learning and reciprocal visits between the two ministries from 2009 to 2012. Both ministers praised the initiative as an exemplary model of south-south cooperation, citing its significant professional benefits for both countries.
The decision was reached during a meeting on Monday, November 25, 2024, at the Sierra Leonean Ministry of Finance in Freetown, where Minister Ngafuan visited at the invitation of Minister Bangura. Also in attendance were Mr. Matthew Dingie, Principal Advisor to Minister Bangura on Economic and Financial Policies and former Budget Director of Sierra Leone, and Mrs. Angela Von Ballmoos, Liberia’s Ambassador to Sierra Leone.
Welcoming his Liberian counterpart, Minister Bangura expressed enthusiasm about the partnership’s revival, stating:
“I am overjoyed to welcome you, Minister Ngafuan, to Freetown and to my office. You have been a good friend and professional colleague for over a decade, and I am certain that our strong professional ties will lead to synergized efforts between our ministries aimed at improving the development outcomes of our people.”
In his closing remarks, Minister Ngafuan extended gratitude to Minister Bangura for the hospitality and emphasized the critical role of collaboration in meeting the high development expectations of their citizens. He remarked:
“Development expectations of our people are huge and urgent, and they look to us as ministers of finance for hope. To meet our people’s expectations, we must lean on each other’s shoulders. The grand goal of the partnership between our two ministries is to ensure that the stronger partner in a specific area of cooperation can help build the capacity of the weaker partner.”
The ministers also discussed their respective countries’ experiences with the International Monetary Fund’s Extended Credit Facility (ECF) programs, focusing on improving domestic revenue generation and enhancing external financial support from multilateral and bilateral partners.
This meeting comes on the heels of Liberian President Joseph Nyuma Boakai’s recent four-day visit to Sierra Leone at the invitation of President Julius Maada Bio. Ministers Ngafuan and Bangura outlined key follow-up actions to build on the progress made during President Boakai’s visit, reaffirming their commitment to closer cooperation between the two ministries.
By reviving the Joint Partnership, both countries aim to create a robust platform for mutual support, fostering capacity building and more effective financial governance for the benefit of their citizens.
