JAKARTA, Indonesia (AP) — The head of the International Monetary Fund says global economic growth is likely to be weaker than earlier expected and will remain at moderate levels.

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.

Lagarde, who is on a two-day visit to Indonesia, met Tuesday with President Joko "Jokowi" Widodo and discussed the global economic situation.

Indonesian officials and the IMF's senior resident representative denied speculation that Indonesia is seeking loans from the IMF.