Financial leaders of the world's most developed nations are haggling over ways to revive the faltering global economy at a time when interest rates are already low and government debt is high.

Central bank chiefs and finance ministers from G7 nations gathered Friday for talks in Marseille, France. Some argue that cutting debt is urgent, while others say cutting too much too fast could hurt the recovery.

The search for a way to bolster growth is difficult because the usual tools, cutting interest rates or boosting government spending, have already been used.

Earlier, the head of the International Monetary Fund urged quick and bold action to counter a crisis of confidence that is hurting the global economy.

IMF Chief Christine Lagarde said central banks should keep interest rates low and continue other efforts to stimulate growth because the risk of recession outweighs the risk of inflation.

Economists say if stimulus efforts go too far, they can spark rising prices that causes rising wage demands in a damaging cycle of inflation.