MAPUTO, Aug. 9 (Xinhua) -- The main political factions of Madagascar signed a transition accord here on Sunday, pining hopes on a transition period to end the political crisis in the Indian Ocean island nation.

    According to the document, the 15-month transition period will see legislative and presidential elections which will be held under international supervision.

    The country's former president Marc Ravalomanana, who was forced to flee the country in March, took part in the international mediation talks in Maputo, capital of Mozambique that began on Wednesday.

    Following weeks of unrest in Madagascar near the start of this year, Ravalomanana was forced to abandon the presidency amid a dispute with the mayor of the capital city of Antananarivo, Andry Rajoelina, who now leads the country.

    Ravalomanana, who has been living in exile in South Africa and Swaziland, said he will not personally take part in the political transition in Madagascar.

    "In the interests of the nation, and following consultations, it seems reasonable to me to not participate personally in the transition," said the former president, who was sentenced in absentia for 4 years in jail in June for abuse of power and embezzlement.

    The accord also grants Ravalomanana an amnesty, which clears the way for Ravalomanana to return to the country.

    Sponsored by special envoys of the United Nations, the African Union, the Southern African Development Community and the International Organization of French-Speaking Countries, Rajoelina, Ravalomanana and the former presidents Didier Ratsiraka and Albert Zafy held talks in Maputo on a possible solution to the country's seven-month-long political crisis.

    On Thursday, Ratsiraka, who was sentenced in absentia in 2003 for 10 years in jail by Ravalomanana for embezzlement, got an amnesty and was allowed to return to his country.

    Ratsiraka, who was president of the country for 21 years from 1975 to 1991 and from 1996 to 2001, has been living in exile in France since 2002, when Ravalomanana took him over after a six-month political stalemate.