What did the G8 promise at Gleneagles?
There were two key promises at Gleneagles: First, the G8’s Multilateral Debt Relief Initiative (MDRI) promised to erase the debts of poor countries that signed up to the Highly Indebted Poor Countries (HIPC) initiative and had completed the acceptance process. These debts consisted of monies owed to the World Bank, International Monetary Fund (IMF) and African Development Fund (ADF). Second, G8 leaders agreed to double overseas aid commitments by 2010 (adding an extra $50billion globally and $25billion to Africa).
