IPNEWS: Minister of Finance and Development Planning of Liberia, Honorable Augustine Kpehe Ngafuan, has held productive talks with his Moroccan counterpart, Madam Nardia Fettah, in Rabat, the Kingdom of Morocco.
The two Ministers met on Tuesday, 10 December 2024 and agreed to the signing of a Memorandum of Understanding (MOU) for cooperation and training in Public Financial Management (PFM).
The MOU will pave the way the way for Moroccan government support and training Moroccan support in tax administration, customs, debt management, cash management, among others.
According to the Minister, this cooperation will provide the opportunity for Liberian PFM professionals from the Ministry of Finance and Development Planning and the Liberia Revenue Authority (LRA) to collaborate with, and understudy, and share experiences with their Moroccan colleagues as a way of enhancing the capacity of professionals from the two countries for more efficient and impacted delivery.
Additionally, the two Ministers discussed ongoing cooperation between the two countries in education, agriculture and fisheries, port and other areas between Morocco and agreed to scale up support to their respective responsible sector ministries and entities to achieve mutually agreed targets and objectives.
Meanwhile, earlier on Monday, in the city of Casablanca, Minister Ngafuan participated in a high-level panel discussion on Patient Capital for Critical Infrastructure along with the Togolese Minister of Finance and other notable financial experts from across Africa at the African Finance Summit (AFIS).
The Minister of Finance, named political instability, weak legal and regularity environment that does not uphold the sanctity for contracts, among others, as factors that undermine countries capacity to attract Patient Capital. Ngafuan underscored that Patient Capital which provides long-term financing for critical infrastructure projects becomes impatient and fleeting when the political, legal, and economic environment do not secure investors’ confidence.
