In the midst of fears about the nation's economy, World Bank Chief Robert Zoellick stated that the United States will not slip into another recession.

"I don't believe (the) United States and the world will go into a double dip," Zoellick spoke during a news conference in Singapore.

Concern has been on the rise as the global financial markets made a dive in the past days. This has been prompted by new fears that the United State's economy will go back into recession, to what experts call a "double dip - in which a short-lived recovery from one recession is followed by another downturn."

In spite of Zoellick's positive outlook, he also said that there were "high degrees of uncertainty" facing the US as well as the global economy.

"And I think that in the case of the US economy that we're likely to see an ongoing slow growth, ongoing high unemployment," said Zoellick.

According to news.com.au, most of the Asian markets were lower on Tuesday. The latest data on U.S. jobs for August that were released last Friday, and worries concerning the sovereign debt in Europe, specifically in Italy and Greece, also plague the markets.

"Economists and leaders are worried a default by one of the peripheral nations of the eurozone could spread to other bigger economies and spark another global financial crisis," said a Yahoo News report.

Unemployment also makes things worse, as the U.S. non-farm payrolls indicate that the American economy did not create any jobs this August. This was the worst report since September 2010. The unemployment rate remains high at 9.1 percent, which has contributed much to further selling in the global markets.

"The reason that I and others, (including IMF head) Christine Lagarde, have been highlighting events in the eurozone is that they can have ripple effects all around the world, not only in terms of financial and capital markets but also in terms of confidence, whether be it consumers or businesses, " Zoellick remarked.

The European Central Bank (ECB) is moving to buy bonds. Zoellick believes that this will give the eurozone some breathing space. But he adds that soon enough, European leaders have to decide on the long-term moves needed to get the affected economies back on track.

"We're reaching a key decision point for European leaders."

According to Yahoo News, the ECB has bought billions of dollars in eurozone government bonds since it first began such operations early last year. This was part of efforts to lighten debt strains in the eurozone.

Christian Lagarde, the managing director of the International Monetary Fund, expressed his own views during a recent speech to central bankers in the United States last month. He explains that "risks to the global economy are rising; however, he is also optimistic that there remains a path to recovery

"The policy options are narrower than before but there is a way through."

"I am confident that with the right actions, strong, sustainable, and balanced growth can and will be restored."