International Monetary Fund (IMF) Managing Director Christine Lagarde said in a speech in Frankfurt on Tuesday that the global economy recovery remained too slow.

"The good news is that the recovery continues; we have growth; we are not in a crisis. The not-so-good news is that the recovery remains too slow, too fragile, and risks to its durability are increasing," she said.

"We are on alert, not alarm. There has been a loss of growth momentum. However, if policymakers can confront the challenges, and act together, the positive effects on global confidence-and the global economy-will be substantial," Lagerade added.

IMF managing director noted that the economic sentiment improved due to further monetary policy easing by the European Central Bank (ECB), a slower pace of interest rate hikes by the Fed, a slight rise in oil prices and lower capital outflows from China.

Lagarde pointed out that each country needed different approach, adding that the approach should contain structural, fiscal and monetary measures.