Central banks in Europe, the United States and Japan have no need to rush to exit the ultra-easy monetary policies they have put in place to spur growth, IMF Managing Director Christine Lagarde said on Friday.
But in prepared remarks at the U.S. Federal Reserve's annual Jackson Hole policy symposium, she also said that central banks must work with each other to minimize spillover from any withdrawal of policy accommodation that could stifle world growth.
"Policies and policy coordination are not yet where they need to be. Failing to act at the global level, with each country playing its part, could put the global recovery at risk," she said.
Central bankers from around the world are attending the annual conference hosted by the Kansas City Federal Reserve Bank in the mountainous splendor of Wyoming's Grand Teton National Park.
(Read more: Time to start worrying about September)
Lagarde, speaking during lunch on the first day of the two-day gathering, noted that concerns about the Fed withdrawing its support had knocked emerging markets in recent days. But she said the exit would proceed more slowly than "feared."
"I do not suggest a rush to the exit. UMP (unconventional monetary policy) is still needed in all places it is being used, albeit longer for some than for others. In Europe, for example, there is a good deal more mileage to be gained from UMP. In Japan too, exit is very likely some way off."
(Read more: Two weeks until 3% US Treasury yields?)