Worst of global financial crisis over - IMF

The worst of the global financial crisis is over, but the world economy remains stuck "between the ice of recession and the fire of inflation", IMF Managing Director Dominique Strauss-Kahn said on Friday.

"No one can say that the world economy is at a good temperature," Strauss-Kahn told a conference in Ukraine's Black Sea resort of Yalta. "We are just between the ice of recession and the fire of inflation."

He described the world response to the crisis as "adequate", though he said its economic consequences "are still in front of us".