High standards of public governance are the essential foundation for achieving sustainable economic growth and social cohesion. Good governance and the fight against corruption should not just be new catchwords in international cooperation. They represent the keys for successful reform and for equitable and sustainable development. This work presents the papers discussed at the December 2001 Latin American Forum on ensuring transparency and accountability in the public sector. The forum brought together more than 450 senior government officials, business leaders and representatives of international organizations from OECD countries, Latin America and the Caribbean. The forum approved policy recommendations that reflect the shared experiences of member countries of the OECD and the Organization of American States. The policy recommendations identify principles and crucial factors in three key areas of good governance: ensuring impartiality in the decision-making process by a credible conflict-of-interest policy; increasing transparency in the preparation and execution of budgets; and promoting freedom of information, consultation and participation of citizens in the formulation and implementation of public policies.