President of International Monetary Fund Dominique Strauss Kahn said that although the world is about to survive the greatest stagnation since the Great Depression of 1929, it has to be ready to challenge new financial crises in the coming years.

Delivering a speech at the University of Johannesburg in South Africa, Strauss Kahn said economic recovery will ease pressure on leaders.

Kahn said potential crises may risk the sustainability of some financial reforms aimed at regulating economy.

Noting that he can not estimate the date and nature of the future crises, Strauss-Kahn said, nevertheless, he was sure that a new crisis would hit.

Kahn further said the financial crisis caused big transformations in global economy but added that consumers in China and in other developing countries still have a very long way to go before becoming new leader of the economic expansion, replacing the US.