IMF recognizes Libya rebel authority as formal member   2011-09-10 21:18:22 FeedbackPrintRSS

Marseille, France, Sept. 10 (Xinhua) -- Libyan rebel authority the National Transition Council was formally recognized by the membership of the International Monetary Fund, the IMF Chief Christine Lagarde said Saturday at the press conference closing the meeting.

"I'm very pleased to report that the IMF membership now recognized the National Transition Council (NTC) as the new government of Libya. We are an international institution that can only recognize new institutions and new governments if the membership in its large majority recognizes the new government and that has been the case for Libya that is now normally represented at the IMF by the National Transitional Council," she said.

"And in this context, the fund will stand ready to help the authorities through all the services that the IMF provides," she added, laying out efforts like technical support, policy analysis and loans.

Libya has attended the Marseille discussion over Deauville Partnership as an observer state.

Lagarde said the IMF will send a delegation to Libya to analyse the support in need as long as the security allows.

So far, around 40 countries and international organizations have recognized the legitimacy of Libyan rebel authority. Leading by France, Britain, the United States and the European Union, most major western countries have promised to offer political and financial aid to the rebels.

After around six-month battle, Libyan rebels have controlled most part of the country with resistance remaining mainly in Bani Walid, the hometown and stronghold of forces loyal to Libya leader Muammar Gaddafi.

On the eve of the ultimatum issued by the NTC asking Gaddafi's loyalists to surrender, battles started between the two sides and casualties were reported.

Special Report: Foreign Military Intervention in Libya


Editor: Yang Lina
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