Financial leaders pledge `bold' action on recovery

WASHINGTON (AP) -- World financial leaders on Saturday promised "bold and ambitious" action to boost a global recovery that has shown recent disturbing signs of weakness.<br /> <br /> That pledge from the International Monetary Fund's policy-setting committee comes after a week of stomach-churning swings in the financial markets triggered by growing fears that parts of Europe could be in danger of slipping into another recession.<br /> <br /> The 188-nation IMF called increasing economic growth an "utmost priority" and pledged to make the necessary structural changes that would stimulate greater growth.<br /> <br /> But finance leaders have made similar promises in the past, only to fall short when trying to follow through.<br /> <br /> The commitments came in a closing statement from the IMF's steering committee at the fall meeting of the IMF and World Bank.