The head of the International Monetary Fund has warned that "strong political will" across the world is needed to deal with the current world economic uncertainty.
In a speech in Washington, Christine Lagarde also criticised the political reaction to the crisis, saying "policy indecision and political dysfunction" had exacerbated the situation.
She said the world had entered a "dangerous new phase", adding that confidence would not return to the global economy without collective resolve.
Ahead of detailed IMF forecasts next week, she said global growth was continuing, but was slowing down. Ms Lagarde said advanced economies were facing an anaemic and bumpy recovery, with unacceptably high unemployment.
She said weak growth and worries about high levels of debt were fuelling a crisis of confidence, holding back spending, investment and job creation. The IMF chief warned that this "vicious cycle" was gaining momentum.
Ms Lagarde called for some countries to slow down their efforts to cut debt levels, as this could hurt recovery and worsen job prospects.
