IMF head says world economy highly vulnerable
The head of the IMF Dominique Strauss-Kahn said here on Monday that although the worst of the global financial storm had passed, the world economy remains "highly vulnerable."
"Today the storm has passed. The worst has been averted thanks to a bold and rapid policy response and thanks to cooperation," he told delegates at the annual conference of the Confederation of British Industry (CBI) -- Britain's biggest employers group.
"We can say that the recovery has started but everyone understand that it is very fragile and still dependent on policy support. The financial conditions have improved but are still far from normal."
Strauss-Kahn, who is managing director of the International Monetary Fund, added: "The economy ... (is) getting better, but (is) still highly vulnerable."
"During the crisis, everyone was united by a common purpose. Going forward, this might dissolve. So the road ahead will be less clear cut."
Strauss-Kahn added that nations needed to cooperate more to build on signs of worldwide economic recovery.