-2- RECALLING ALSO that the Mérida Convention expresses concern about cases of corruption that involve vast quantities of assets, which may constitute a substantial proportion of the resources of states, and that threaten the political stability and sustainable development of those states; CONVINCED that multilateralism and cooperation among sovereign states play an important role in supporting national efforts to consolidate democracy, promote social development, and fight corruption; RECOGNIZING: That external debt relief may be a critical factor in freeing resources that can be directed to activities that promote social investment of states and strengthen democracy; That the Inter-American Convention against Corruption is the most important inter-American legal instrument for fighting corruption, in that it establishes indispensable means of cooperation in the fight against this scourge and thus promotes international actions to prevent, detect, and punish it; The efforts made by member states to honor the commitments undertaken in the InterAmerican Convention against Corruption, and their participation in the Follow-up Mechanism to that Convention; and The importance of the Conclusions and Recommendations concerning Specific Measures for Strengthening MESICIC, adopted by the First Conference of the States Parties to the Follow-up Mechanism for Implementation of the Inter-American Convention against Corruption, held at OAS headquarters on April 1 and 2, 2004; and UNDERSCORING the recent adoption of the Mérida Convention as an effective and modern instrument for fighting corruption, particularly because it establishes the obligation of the States Parties to adopt preventive measures and to criminalize a wide range of acts of corruption; to extend to one another the broadest possible cooperation with respect to extradition and mutual legal assistance, pursuant to national legislation and applicable international norms, and to confiscation of the proceeds of crime; and to provide technical assistance and create a mechanism for returning proceeds of acts of corruption to their legitimate owners; and making an appeal for its prompt ratification to ensure its entry into force and the implementation of its mechanisms, DECLARE: 1. That development, democracy, and the fight against corruption are closely interrelated topics and, as such, should be addressed in a balanced and integrated way by our countries. 2. That the world phenomenon of corruption constitutes a serious obstacle to the social development of their peoples and has warranted the attention of the Heads of State and Government in the Summits of the Americas process. In that regard, they reaffirm their commitment to fight corruption, which jeopardizes democracy and democratic governance, weakens institutions, undermines economic and social development and the fight against poverty, erodes public trust, and disrupts political stability.