“If there is a need for short-term financing, the IMF is there to provide,” Masood Ahmed, director of the fund’s Middle East and Central Asia department, said.

But he added that Libya was not likely to need an extended aid program, since an estimated $150 billion of sovereign assets once controlled by former Libyan leader Muammar Qaddafi and his inner circle, now frozen abroad, were expected eventually to be available to the country.

“In the medium term, it should be able to finance itself,” he said.

IMF chief Christine Lagarde said on Saturday the Fund recognized Libya’s National Transitional Council as its government and would send a team there as soon as security permits.

Ahmed also said the IMF remained willing to lend money to Egypt if Cairo changed its mind and asked for assistance.

Egypt’s military rulers turned down an offer of $3 billion from the IMF in June, vowing to fund their budget deficit with domestic resources and loans from wealthy Arab governments.

Ahmed said the IMF was encouraged by some economic policy changes planned by the Egyptian government, including reforms to its subsidy system that would improve the distribution of cooking gas to poor people, and moves to raise the prices paid to farmers for their crops.