Forex News – Gaddafi captured in his home town, Sirte in Libya

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Early media reports announced today that deposed Libyan leader, Colonel Muamar Gaddafi has been captured by Libyan interim government fighters as he was travelling in a convoy in his home town of Sirte.

It was reported that the forces captured the town of Sirte, extinguishing the last significant resistance by forces loyal to Gaddafi.

National Transitional Council (NTC) official, Abdel Majid told Reuters news agency that “He’s captured. He’s wounded in both legs … He’s been taken away by ambulance.”

“Sirte has been liberated. There are no Gaddafi forces any more,” said Colonel Yunus Al Abdali, head of operations in the eastern half of the city. “We are now chasing his fighters who are trying to run away.”

Now that the town has fallen, Libya’s ruling National Transitional Council (NTC) should now begin the task of forging a new democratic system and begin the countdown to elections for a national council within eight months.

Gaddafi went into hiding after rebel forces began to fight loyalists had toppled the leader from power on August 23 after 42 years of his rule over the oil-producing North African state.

Anti-Gaddafi fighters immediately took to the streets to celebrate after hearing the news.

Government fighters hoisted the red, black and green national flag above a large utilities building in the center of a newly-captured Sirte neighbourhood and celebratory gunfire broke out among their ecstatic and relieved comrades.