Backed by G7 finance ministers, US President George W. Bush says a strong coordinated response is necessary to end the global financial crisis. And the International Monetary Fund has endorsed a new G7 action plan.

Bush pledged a global response to the credit crisis, and says the top industrial nations will work together to solve it quickly.

The US President spoke to reporters after an unusual Saturday gathering with the Group of Seven economic chiefs and leaders of the IMF and World Bank.