Finance and Development Planning Minister Augustine Kpehe Ngafuan of Liberia and his Sierra Leonean counterpart, Sheku Ahmed Fantamadi Bangura, have reaffirmed their commitment to strengthen collaboration between their ministries. During a recent meeting in Freetown, Sierra Leone, the ministers discussed various areas of public financial management (PFM), including debt management, budgeting, treasury management, and tax policy. Their aim is to enhance peer learning and facilitate reciprocal visits among officials. This initiative is a revival of the Liberia-Sierra Leone Joint Partnership in PFM, a framework active between 2009 and 2012, which proved beneficial in fostering professional growth and cooperation between the two ministries.
The meeting took place on November 25, 2024, at the invitation of Minister Bangura, who expressed his delight in welcoming Minister Ngafuan. He acknowledged their longstanding professional friendship and expressed confidence that their collaboration would yield positive results for their nations. The restoration of the Joint Partnership is seen as a demonstration of south-south cooperation, embodying the ministers’ shared vision to enhance development outcomes for their citizens.
Minister Ngafuan reciprocated the warm welcome, emphasizing the urgency of development demands from their populations. He noted that as finance ministers, they bear the significant responsibility of fulfilling the expectations of their people and, therefore, must support and learn from one another. The ministers envisioned a partnership where each can strengthen the other’s weaknesses, thus enhancing overall capacity in various areas of PFM.
Their discussions also included the management of Extended Credit Facility (ECF) programs with the International Monetary Fund (IMF) as both nations aim to boost domestic revenue generation and attract greater external support for development initiatives. They emphasized the importance of aligning efforts with broader fiscal policies to ensure sustainable economic growth and meet the immediate needs of their constituents.
Furthermore, both ministers highlighted key follow-up actions from recent diplomatic engagements, particularly following President Joseph Nyuma Boakai’s visit to Sierra Leone at the invitation of President Julius Maada Bio. This diplomatic exchange has set the stage for upcoming initiatives aimed at deeper economic integration and strategic collaboration, which are crucial for addressing the challenges faced by both countries.
In summary, the commitment made by Ministers Ngafuan and Bangura to rekindle their partnership is a proactive step towards enhancing public financial management in Liberia and Sierra Leone. Their emphasis on reciprocal support and shared learning will not only bolster their respective ministries but also contribute to the broader development goals of their nations. By working together, they are poised to navigate the complexities of modern economic challenges and work towards sustainable growth and improved welfare for their citizens.
