IMF chief Christine Lagarde warns some risks to global economy persist

International Monetary Fund managing director Christine Lagarde said that while a "substantial portion" of the global economy appears better now than a year ago, some risks persist.

"Growth continues to strengthen and broaden among the emerging and developing economies", and momentum was starting to pick up in the United States, Lagarde said yesterday at the Boao Forum for Asia in Hainan province.

Without providing numbers, Lagarde said she was giving a preview of the IMF's World Economic Outlook report, which is due to be released this week.

Risks included a "patchy recovery", with concerns that "naturally centre on Europe", according to Lagarde.

"While there has been progress on a number of fronts, policy solutions will take time to be completed and [become] effective," she said.

Fiscal risks were also weighing on growth, she said, citing spending cuts in the US and a "medium-term challenge" in Japan.