What You Need to Know
The governments of Mozambique and Brazil have signed a memorandum of understanding focused on public finance management and development financing. The agreement, signed by Mozambican Finance Minister Carla Loveira and Brazilian Secretary Mathias Alencastro, aims to strengthen cooperation and enhance the well-being of both nations through shared history and language.
Africa-Press – Mozambique. The Mozambican government and its Brazilian counterpart have signed in Brasilia a memorandum of understanding covering the areas of public finance management, and development financing.
The agreement, which is a formal commitment to sustainable development, was signed by Mozambican Finance Minister, Carla Loveira, and the Brazilian Secretary for International Affairs, Mathias Alencastro.
According to Louveira, speaking during her working visit to Brazil, the agreement is also a formal expression of a partnership based on a shared history and a common language.
“Coming to our sister country encourages us to believe that South-South cooperation is not just an academic concept. It is a reality with practical and transformative consequences for our nations. This agreement confirms the strength of relations between our countries and opens a new chapter of technical cooperation in public finance management and development”, she said.
The minister explained that the agreement will boost developing collaboration between the two countries “for the benefit of the well-being of our peoples.”
The minister also held a meeting with the head of the Brazilian Central Bank, Gabriel Galípolo, which was aimed at deepening institutional dialogue and identifying opportunities for cooperation between the two countries.
“The discussions also allowed for the exploration of institutional cooperation mechanisms that could support the strengthening of Mozambican technical and regulatory capacities, particularly in the context of the creation and consolidation of financial instruments geared towards economic development”, she said.
The minister’s mission to Brazil is part of a broader agenda of dialogue with Brazilian institutions, aimed at strengthening strategic partnerships and mobilizing technical expertise in fundamental sectors.
Mozambique and Brazil share a historical connection rooted in language and culture, stemming from Mozambique’s colonial past. This relationship has evolved into a partnership that emphasizes South-South cooperation, particularly in areas like public finance and development. The recent agreement signifies a commitment to sustainable development and mutual support in economic growth initiatives, reflecting the increasing importance of international collaboration among developing nations. Both countries are keen to leverage their shared experiences to foster technical cooperation and enhance regulatory capacities in financial management.
