The International Monetary Fund has said it would recognise Libya's rebel-led transitional council only

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when there is broad-based international support for it.

IMF spokesman, David Hawley, told reporters at his weekly news conference that the world body was monitoring the events in the strife-hit country and its future engagement would be with any internationally-recognised government.

"Events are still unfolding and we're following them. When there is a clear, broad-based international recognition of a new government in Libya, it's at that point that the Fund could or would move toward recognition," he said.

He added that the Fund was monitoring the developments in Libya and it hopes for a swift end to the civil conflict.

"The nature of our engagement going forward will depend on the wishes of any internationally recognised government in the country. So to underline, we're following events.

"We will await an expression of the wishes from an internationally recognised government," he said in response to a question.

"It's the member countries of our organisation, but since there are 187, it is much the same thing as saying the entire international community, but it's following the wishes of the countries who are our members," Hawley explained.

Several countries have already recognised the rebel-led Transitional National Council that is headquartered in the eastern city of Benghazi.

After months of fighting, the rebels surged into the capital Tripoli this week, and are now on the lookout for Muammar Gaddafi.