Recovery still fragile, says OECD chief

ESTORIL, Portugal: Dubai World's debt problems are a wake-up call that the economic recovery is still fragile and that there are still risks, OECD Secretary-General Angel Gurria told Reuters.

Gurria said the incident had reminded markets of growing debt concerns, something that should prompt governments to be cautious in withdrawing from large stimulus measures to boost growth after the worst global recession in decades.

Dubai spooked financial markets last week when it said two flagship firms, Dubai World and its Nakheel unit, planned to delay repaying billions of dollars in debts.