The IMF on Saturday said that “bold action” is needed to bolster global economic recovery, and urged governments not to constrain growth by tightening budgets too drastically.

With Japan’s economy floundering, the euro zone at risk of recession and even China’s expansion slowing, the IMF’s steering committee said focussing on growth was the priority.

Sunshine and lollipops all round from German Finance Minister Wolfgang Schaeuble, though: “There is no reason to talk about a crisis in the global economy”

Reuters have more

Also, a video of International Monetary Fund Managing Director Christine Lagarde and Singapore Finance Minister Tharman Shanmugaratnam speaking at a news conference following the IMF’s annual meeting in Washington at Bloomberg, here. Discussing the global economy and more.