Assembly/AU/Decl.2(XII)
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14.
RECOGNIZE the need to speed up the economic integration of the
Continent to highlight the enormous resilience potential of the African
Continent by giving concrete expression to political and economic
integration;
15.
INVITE the African Union Commission, in collaboration with the Regional
Economic Communities, the African Union Member States and all the other
stakeholders to quickly finalise the Minimum Integration Programme and
diligently carry out its concerted implementation with the aim of integrating
our continent politically and economically;
16.
INVITE the African Union Commission to fast track and quickly finalise the
preparatory work for the establishment of the African Investment Bank, the
African Monetary Fund and the African Central Bank;
17.
INVITE the African Union Commission to put in place an appropriate
multilateral monitoring system for the continent, geared towards providing
coherent statistical information on the macroeconomic and financial
development of African Union Member States and Regional Economic
Communities, with a view to establishing the African Central Bank leading
up to the creation of a single African currency.
18.
CALL for a real voice to be given to Africa in the reform of the international
financial institutions aimed at better management of economic shocks and
ensuring predictability of resource flows and the effectiveness of aid;
19.
UNDERLINE the need for improvement of the effectiveness of aid to Africa
including by removing outdated conditionalities on aid and ensuring
objectivity and transparency in the determination of criteria for resource
flows from international financial institutions to Africa;
20.
UNDERLINE FURTHER that the current global financial crisis should not be
used as an excuse to cut development assistance to Africa and insists that
developed countries ought to give no less attention to the needs of African
countries than they have given to their financial institutions that have
encountered crisis;
21.
RECALL that the international negotiations on climate change are expected
to be held under the auspices of the United Nations;
22.
EMPHASIZE that the Global carbon trading mechanisms that are expected
to emerge from international negotiations on climate change should give
Africa an opportunity to demand and get compensation for the damage to
its economy caused by global warming and underlines in this regard the fact