African Union CHAPTER 4 4. ECONOMIC GOVERNANCE AND MANAGEMENT In the Declaration on Democracy, Political and Economic Governance, African countries recognise that "good economic governance including transparency in financial management are all essential prerequisites for promoting economic growth and reducing poverty". In this line, therefore Economic Governance and Management is to be understood as referring to the broad national economic policy framework, the institutions, processes and practices in place that are aimed at facilitating, supporting or otherwise promoting an economic climate that encourages growth, poverty reduction and the general welfare of the citizens. The following are the objectives of the APRM under this Theme: 1. 2. 3. 4. 5. 6. Design and implement economic policies for sustainable development Encourage ownership and participation of key stakeholders in policy formulation and implementation Promote sound public finance management Fight corruption and money laundering Accelerate and deepen regional integration in the monetary, trade and investment domain Develop and implement trade and investment policies that promote economic growth 25