International Monetary Fund Deputy Managing Director Naoyuki Shinohara said that the outlook for global economies is threatening as policy makers do not have many options to boost growth that is sluggish in most advanced economies this year.

Global shares fell over the past two months and higher-yielding currencies dropped against their lower-yielding counterparts amid the mounting concerns that European debt woes will curtail recovery.

The EU along with the IMF introduced $1 trillion aid package to highly indebted countries in the euro region, while many individual European nations embarked on spending-cut plan to tame their huge sovereign debt.

Shinohara mentioned that such measures introduced by policy makers are limited and sometimes been exhausted.