The International Monetary Fund (IMF) says its member nations have agreed to take decisive collective action to overcome the global economic crisis.

Issuing a statement after its annual general assembly on Saturday in the U.S., the global lender said that the world economy has entered a dangerous new phase requiring close attention, coordination and bold actions.

The IMF has vowed to take collective action to secure financial stability and support growth, noting that economies and financial systems of countries around the world are closed linked.

The IMF also said that it is encouraged by the eurozone economies' decision to take all necessary actions to resolve Europe’s debt crisis, citing the agreement on the extension of the European Financial Stability Facility.

The statement, however, did not give specific measures to resolve current economic crisis.