The International Monetary Fund will upgrade its growth projections for the global economy, IMF Managing Director Christine Lagarde said Tuesday.

The IMF will publish the revised forecasts in about three weeks from now, she told a press conference in the Kenyan capital of Nairobi. She, however, did not divulge more details about the upcoming outlook report.

Lagarde said that the world economy is in a better place now than it was five years ago. However, "we are not out of the woods yet," she said.

The official noted that the recovery that is underway is "uneven and subdued," and that its underlying dynamics are shifting.

RTTNews