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IMF recognises Libyan rebel group

Libya's rebel-led group, the National Transitional Council, was formally recognised by the International Monetary Fund (IMF), the global body's chief Christine Lagarde said on Saturday at the Group of Eight (G8) that met in Marseille.

After the fall of the Muammar Gaddafi regime following the a NATO-led operation, the NTC has been recognised as the legitimate power in Libya by 60 countries.

During an international conference on Libya held in Paris, world leaders agreed to release $15 billion in frozen Libyan assets for the country's interim authorities to help Libya return to normal life after months of violence.

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