Oslo (Reuters) — The Philippines government and Maoist-led rebels agreed indefinite ceasefires on Friday as part of an accord to accelerate efforts to end a conflict that has lasted almost five decades and killed at least 40,000 people.

The government expressed hopes that a peace agreement could be reached within a year after the Oslo talks, the first formal meeting for five years. The guerrillas, who reiterated demands for "revolutionary change," stopped short of setting a deadline.