Page "Foreign relations of Madagascar" Paragraph 11

Further debt relief constituted another infusion of favorable developments for Madagascar when on June 11, 2005, at a pre-G8 summit meeting in London, world leaders agreed to write off $ 40 billion in debt owed by the world's poorest countries.

Under the plan, the World Bank, the International Monetary Fund and the African Development Fund would write off 100 percent of the money owed to them by 18 countries