Europe came under pressure on Saturday from other world powers to do more to fix its debt-heavy economy, which still threatens to undermine a fragile global recovery.

The International Monetary Fund's governing panel said the euro zone needed to take further steps to get its debt under control, ensure the stability of its banking system and carry out bold structural reforms to return to growth.

The statement by the panel did not mention any other developed economies by name. It said advanced economies generally needed to tighten their budgets but not excessively.

The panel met a day after leading economies agreed to bolster the IMF's coffers to help contain the euro zone sovereign debt crisis.

(Writing by William Schomberg; Editing by Neil Stempleman)