Ministers of Finance, delegates from the British-based Commission for Africa and representatives of African institutions, business and civil society gathered in Cape Town on 17 and18 January to demand complete relief of all debts African countries owe to donors. "We urge the Commission to propose 100% multilateral debt service relief", the meeting said in a communiqué. The international community should assist African countries to effectively reduce domestic debt, the delegates urged. Donor countries should see to it that the agreed target of 0.7% of national budgets should go to development aid. The 15 finance ministers were meeting under the auspices of the Commission for Africa that was set up by British Prime Minister Tony Blair to tackle poverty on the continent.

The G7 finance ministers are urged to agree on the 100% debt relief at their 4th February meeting in London. Nelson Mandela has agreed to attend the February 4 meeting to make the case for international lenders to write off the debts owed by African countries.