Before the World Economic Forum in Davos next week, the International Monetary Fund Director Christine Lagarde and World trade organization chiefs warned policy makers that fiscal consolidation policies, which should enhance growth, may negatively affect global growth prospects.

They said we worry about decelerating global growth and rising uncertainty, high unemployment, and the adoption of protectionist policies.

The announcements came after the World Bank lowered global growth forecasts to 2.5% this year compared with 3.6% announced in June, where it said the euro area expected contraction of 0.3% will impact the growth pace in emerging markets.

Lagarde said the ECB should have bigger role in resolving the debt crisis.