- International Monetary Fund chief Christine Lagarde on Thursday said a worldwide economic recovery was taking hold, opening a window for countries to enact reforms aimed at attaining broader, lasting prosperity.

"The long-awaited global recovery is taking root," she said in an address Thursday evening at Harvard's Kennedy School of Government.

Countries around the globe are seeing renewed or sustained economic expansion, coinciding with greater stability in banks and market confidence, she said.

"Can the world seize the opportunity of the upswing to secure the recovery and create a more inclusive economy that works for all?" she asked.

Her remarks came the week before the IMF and World Bank are due to begin annual meetings at which the Fund will unveil updated forecasts for global growth.