Christine Lagarde

IMF Managing Director Christine Lagarde said Asia is still expected to lead global growth, but the pace is slowing with a risk of possibly sagging further because of recent financial market volatility.

Speaking Tuesday in a lecture at the University of Indonesia, Lagarde said the global economic situation will have a significant impact on developing countries, including Indonesia.

Her statement Monday was the IMF's first reaction to Greek voters' decisive rejection of further austerity measures in return for bailout loans.