by Xinhua Writer Jiang Xufeng
WASHINGTON, Jan. 17 (Xinhua) -- At a Thursday news conference on the outlook of global economy in 2013, the International Monetary Fund (IMF) chief struck a cautiously optimistic tone on global economic recovery, but warned against any complacency in efforts to spur economic growth.
There is a lot of work left to do to bolster global economic recovery despite some important steps taken in key economies to reduce financial and fiscal risks, IMF Managing Director Christine Lagarde told reporters.
"We stopped the collapse. We should avoid the relapse. And it's not time to relax," Lagarde stressed.
The global economic collapse has been avoided due to decisive action taken by policymakers especially in developed countries. In the eurozone and United States, although some decisions are often made at the last hour, the economic collapse has been averted, said Lagarde, who took the helm of the Washington-based global lender in July 2011.
Policymakers should avoid the relapse of a crisis despite some nascent economic recovery signs and improving market confidence, said the former French Finance Minister.
The first-ever female chief of the IMF has played a pivotal role in stabilizing the eurozone debt crisis which has become the main drag on global economic growth in past years.
In Europe, a lot has been achieved, but "firewalls have not yet proven operational" and progress should be made on the bank union, Lagarde stated.