“The beginning of this decade [has been] eerily reminiscent of the 1920s — high inequality, rapid spread of technology and huge risks and rewards in finance,” Georgieva said. “For the analogy to stop right there and go no further, acting together in a coordinated manner is absolutely critical.”

The IMF is urging countries to use this time now, while unemployment is low and growth is decent, to address bigger problems in the economy. While the short-term economic outlook is positive, there are deep structural trends in the economy that are worrying for the longer term.

The U.S. economy will grow at 2 percent, down modestly from 2.3 percent last year, the IMF predicted. China is expected to grow at 6 percent, down from 6.1 percent last year. Growth is expected to pick up in Europe, Brazil, Mexico and some other emerging markets.