MONTREAL: The IMF and World Bank said on Monday (local time) the path to global economic recovery is rife with risks and the onus is on policymakers to avoid runaway inflation and other pitfalls that could derail the process.

At a forum in Montreal, International Monetary Fund chief Dominique Strauss-Kahn and World Bank President Robert Zoellick turned their focus to life after the crisis, issuing a list of "do's and don'ts" for governments as they try to nurse their economies back to health.

Strauss-Kahn maintained his forecast for a global economic recovery in early 2010, with the turnaround starting in September and October of this year.