Resolution on
The New Global Compact with Africa

The 8^th Session of the Conference of African Ministers of Finance, having considered the proposal for a New Global Compact with Africa tabled at this Session by the Executive Secretary of ECA;

Taking note of the principles of ownership, mutuality of commitment and accountability contained in the outline of the Compact:

1. Welcomes the proposal of a New global Compact with Africa;

2. Accepts that the content of the Compact should originate in Africa;

3. Urges Members to develop at the national level concepts and proposals for inclusion in the Compact. In this regard the Executive Secretary of ECA is requested to circulate the Compact proposal to all ministers of finance and planning;

4. Requests the Executive Secretary of ECA to constitute a Steering Committee to include the Bureau of the 8^th Session, and representation from the major Regional and Sub-regional organizations and other high level experts, in order to review the national, regional and sub-regional contributions to the Compact as well as to advise on its substance and the process of moving it forward;

5. Advises ECA to consult with individuals and institutions, which have the potential to best assure that the Compact moves to implementation. This should include the United Nations and Africa’s development partners; and

6. Requests the Executive Secretary to present an elaborated Compact at the April 2001 meeting of the Commission to include Ministers of Finance and Planning, along with a proposal on how best to operationalize the Compact;

7. Commit ourselves to working with the Executive Secretary of ECA to these ends.

Adopted by the Eighth Session of the Conference of African Ministers of Finance, Addis Ababa, Ethiopia, 22 November 2000.