Gold: The global recovery remains too slow and fragile, International Monetary Fund Managing Director Christine Lagarde said Tuesday.
Emerging markets had largely driven the recovery and the expectation was that the advanced economies would pick up the "growth baton," Lagarde said in Frankfurt . "That has not happened."
She said, "The good news is that the recovery continues; we have growth; we are not in a crisis."
"The not-so-good news is that the recovery remains too slow, too fragile, and risks to its durability are increasing."
Economic sentiment has improved driven by further easing from the European Central Bank , an apparent shift to a slower pace of rate hikes by the US Fed , a relative firming of oil prices and lower capital outflows from China , she noted.
In the absence of decisive action to address lingering problems, downside risks remain and have probably increased, Lagarde added.
Different actions are required in different countries. The three-pronged approach spanning structural, fiscal and monetary measures should be adopted to counteract headwinds, she said.
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