Members of the International Monetary Fund on Saturday "strongly endorsed" a promise by the world's advanced economies to do all they could to curb the ongoing financial crisis and restore confidence in global markets.
The IMF's top committee, which speaks for all 185 member countries, pushed for more coordination with developing countries that are beginning to feel the effects of the global credit crunch.
Tackling the crisis requires "exceptional vigilance, coordination and readiness to take bold action," a statement from the International Monetary and Financial Committee read.
Finance ministers and central bank heads from the Group of Seven (G7) industrial nations met Friday, promising to use "all necessary tools" to stabilize the financial system.
Global stock markets suffered record declines over the last week. All eyes will be on the reaction of investors at Monday's market openings in Asia and Europe.
IMF Managing Director Dominique Strauss-Kahn said that Saturday's endorsement of the G7's action plan marked the "first big success of coordination" on an international level.
He pointed to the G7's commitment to keep "important financial institutions" in their countries afloat and said he expected the moves would help unblock credit confidence and boost market confidence.
Strauss-Kahn said that the IMF was ready to make emergency money available to developing countries with critical budget shortfalls.
Shares fell 2.1 per cent Friday on the Seoul stock exchange on general recession fears. South Korea's won dropped against the dollar.
When the Spirit rover landed on Mars five years ago, no one expected it or its sister rover Opportunity to make it to their first birthdays, let alone their fifth.
Amelie Mauresmo fell victim to a leg injury after less than half an hour on court Friday to hand over a 4-0 victory which put French compatriot Marion Bartoli into the final of the Brisbane International.
Mumbai-based movie Slumdog Millionaire won five prizes Thursday night at the Critics Choice Awards, cementing its position as a surprise favourite just as the Oscar season moves into high gear.
After the Taipei Zoo received two giant pandas from China, another Taiwan zoo said Friday it is seeking to receive a pair of pandas from China.