U.S. Treasury Secretary Timothy Geithner says the world's major economic powers need to commit to "substantial and sustained actions" to combat the global recession.
He also warns the recession is deepening and that industrial powers need to do more to help emerging and developing economies survive the economic downturn. Geithner leaves Thursday for a meeting of world finance ministers in London and his remarks highlight a key difference between the U.S. and Europe over the handling of the crisis.
The United States believes nations need to boost spending to help spark the ailing global economy, but European finance officials disagree.
Earlier, U.S. President Barack Obama said "concerted action" is the only way to revive the world's economic fortunes.