The International Monetary Fund cut its growth forecast for the global economy Tuesday, pointing to the threat from the Ukraine crisis and the slowdown in major emerging economies.

While the world economy has picked up pace, anchored by the United States and China, the global crisis lender pointed to looming risks, from the standoff between Russia and the West over Ukraine, to poorly handled policy in countries like Brazil and deflation in the eurozone.

The report, released ahead of the annual IMF-World Bank spring meetings in Washington beginning Thursday, cut back the global growth forecast to 3.6 percent this year and 3.9 percent in 2015. The global economy grew 3.0 percent in 2013.

The IMF kept its economic growth outlook for Korea at 3.7 percent and 3.8 percent for 2014 and 2015, respectively, saying that accommodative monetary policy and increasing exports will help growth.