Article posted: 10/11/2012 6:38 AM

IMF chief urges action in tackling euro crisis

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People hang out at the venue of the IMF meeting in Tokyo. When global finance ministers meet this week in Tokyo, they'll confront a triple challenge: Economic troubles in three major regions are threatening the world's economy.

Associated Press

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The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe’s debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations. IMF chief Christine Lagarde, speaking to reporters as the IMF and World Bank held annual meetings in Tokyo, praised recent steps taken by the European Central Bank and European governments, but said “more needs to happen, and faster.”