IMF's Lagarde: 'Recovery is still very fragile'

The global economy remains fragile and it should be the United States that takes the lead on creating a lasting recovery, the head of the International Monetary Fund said Tuesday.

"Now is another moment for U.S. economic leadership," said IMF managing director Christine Lagarde in a speech to the Associated Press.

Lagarde acknowledged that the global economy has improved in recent months, pointing to signs of stabilization in Europe, as well as stronger economic growth and hiring in the United States.

But she cautioned that the financial system in Europe is still "under heavy strain" and that debt levels are "too high." The global economy is also threatened by high unemployment and rising oil prices, she added.

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- Posted: 2012-04-03 11:15:49

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