Economic Governance and Management

For the purposes of the APRM, good economic governance is declared to be an essential prerequisite for promoting economic growth and reducing poverty (Objectives, standards, criteria and indicators for the APRM, Section 3.1).

The objectives elaborated on this page are taken directly from the Objectives, standards, criteria and indicators for the APRM, Section 3. For each objective, specific standards, criteria and examples of indicators are given. These objectives also form the structure of the APRM self-assessment master questionnaire, Section 2.

These objectives are drawn from various continental and international codes and treaties, including: The Constitutive Act of the African Union (2000); the Abuja treaty establishing the African Economic Union (1991); International Standards in Auditing; International Accounting Standards; the Code of Good Practices on Transparency in Monetary and Financial Policies; Principals for Payment systems; Core Principals for Effective Banking Supervision and the NEPAD Framework documents (2001).

The key objectives under the theme of economic governance and management are:

• To promote macroeconomic policies that support sustainable development;
• To implement transparent, predictable and credible government economic policies and promote sound public finance management;
• To fight corruption and money laundering; and
• To accelerate regional integration by participating in the harmonisation of monetary, trade and investment policies amongst the participating states.