Fiscal deficits worldwide will decrease by less than expected given the resumption of growth, the IMF's Fiscal Monitor report, published on Friday, revealed.

Dominique Strauss-Kahn, the managing director of the Fund, said countries had to make better efforts at cutting their deficits. "I am convinced that there is much that countries can do now to strengthen confidence in long-term fiscal sustainability without weakening growth prospects," he said.

The report saw a 0.7 percentage-point decrease