WASHINGTON — The World Bank said Monday it has been monitoring Libya's economic situation and would be guided by member countries on resuming its activities with the country.


"Guided by our shareholders, the Bank will reengage with Libya just as soon as we can be helpful in the country's recovery," the 187-nation development lender said in an emailed statement.

"For the duration of the conflict to the extent possible we have monitored Libya's economic situation in coordination with the UN but we have had no staff in Tripoli since earlier on in the year," it said.

The World Bank comments came as world leaders hailed the rebel takeover of Tripoli, urging Libyan strongman Moamer Kadhafi to admit defeat.

The rebels' dramatic push to wrest full control of the Libyan capital from Kadhafi loyalists was seen as the end-game in the six-month uprising against his 42-year rule.