DALIAN - The world economy is not likely to suffer a double-dip recession, but the developing countries should further tighten their monetary policies to keep inflation under control, the new deputy managing director of the International Monetary Fund Zhu Min said on Wednesday.

"There is no structural impact so far, as both developed economies and emerging countries just saw a slowed down growth instead of a negative one," Zhu said when attending the World Economic Forum in Dalian.

"However, the possibility for the world economy to slide into recession cannot be ruled out, and market volatility will continue into the future," Zhu added.

"To prevent double-dip risks," Zhu continued, "emerging economies should make more effort to stimulate domestic consumption and the developed countries should shift from a proactive fiscal policy to encourage individual consumption and investment."

"Meanwhile, ensuring a sound banking system is a top priority for governments in both developed and developing countries," Zhu concluded.