Sevilla, Spain — Speaking at the ongoing Financing for Development Conference in Sevilla, Liberia’s Deputy Minister for Economic Management, Hon. Dehpue Zuo, has delivered a powerful appeal for transformative reforms in the global financial system and a renewed commitment to multilateralism.
On behalf of Finance and Development Planning Minister Hon. Augustine Kpehe Ngafuan, Deputy Minister Zuo extended Liberia’s appreciation to the King, Government, and people of Spain for their hospitality in hosting this pivotal event aimed at redefining global development financing.
Minister Zuo also expressed gratitude to United Nations member states for electing Liberia to a non-permanent seat on the UN Security Council, affirming Liberia’s readiness to collaborate in advancing the global agenda for peace and sustainable development. He aligned Liberia’s stance with that of the African Union and the G77 + China, underscoring the nation’s dedication to global cooperation.
Deputy Minister Zuo highlighted the conference’s urgency, noting that a decade after the adoption of the Sustainable Development Goals (SDGs) and the pledge to “Leave No One Behind,” many targets remain unmet. He attributed this to growing economic inequalities, the escalating effects of climate change, and a significant decline in Official Development Assistance (ODA), all contributing to intensified global poverty and human suffering.
In his address, Zuo championed the adoption of the Pact for the Future, a global commitment designed to accelerate the implementation of the SDGs. He called for inclusive reforms to the international financial architecture, advocating for a more equitable, transparent, and participatory financial system that fosters industrialization, trade, and sustainable economic growth, particularly in developing nations.
He further pressed the international community to transition to a transformative development financing model that strengthens domestic resource mobilization and incentivizes public-private partnerships. A special emphasis was placed on natural resource beneficiation—adding value to raw materials within producing countries—as a crucial step towards fairer wealth distribution and sustainable growth.
The Deputy Minister strongly advocated for reforms in the global trade system, asserting that underpriced raw material exports without value addition undermine development. He joined other nations in urging for fairer tax cooperation and the protection of developing countries’ taxing rights under double taxation treaties. He also called for robust action against illicit financial flows, tax evasion, and aggressive tax avoidance, which drain vital resources from the economies of the Global South.
Minister Zuo also raised concerns over unsustainable debt burdens that force developing nations to forgo essential investments in education, healthcare, and infrastructure. He proposed reforms to credit rating mechanisms, increased transparency, and better utilization of Special Drawing Rights (SDRs) to create multidimensional financing strategies that address poverty and climate change.
At the national level, he highlighted Liberia’s ARREST Agenda for Inclusive Development (AAID), a comprehensive national development plan anchored on the SDGs and the African Union’s Agenda 2063. The AAID aims to mobilize domestic resources, strengthen revenue collection through digitalization, and improve fiscal responsibility. He emphasized that good governance, anti-corruption measures, and investor confidence are integral to creating a viable development ecosystem in Liberia.
Zuo called for increased international investment in regional infrastructure such as transport, energy, water, and digital technology to drive industrialization. He urged multilateral development banks to scale up financing support to close the SDG funding gap—estimated at $4.2 trillion currently and projected to reach $6.4 trillion by 2030. He stressed the need to make global governance more inclusive, effective, and reflective of present realities.
“Liberia remains committed to working with national, regional, continental, and international partners to realize its development agenda,” Minister Zuo declared. “We stand at a historic crossroad—one that demands decisive action to build a future of equity, peace, and prosperity. Together, we must ensure the challenges of today become the triumphs of tomorrow.”
The Liberian delegation at the 4th Financing for Development Conference, headed by Deputy Minister Zuo, includes Ambassador Teeko Yorlay, Ambassador Extraordinary and Plenipotentiary to France, and Mr. Baba Sillah, Deputy Permanent Representative to New York.
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