Central banks saved world economy, now beware the fallout: IMF
According to the IMF, central banks got it right when they saved
the world economy, but their unprecedented actions risk
disruptive cross-border spillovers and potentially heavy losses.
The new research stated central banks could face severe losses
when they begin to withdraw the extraordinary sums of money they
pumped into financial systems all over the world.  By Alister
Bull Thu May 16, 2013 5:41pm EDT  Central banks got it right
when they saved the world economy, but their unprecedented
actions risk disruptive cross-border spillovers and potentially
heavy losses when the time comes to reverse course, the IMF said
on Thursday.  In its most detailed survey so far of the dramatic
measures taken to counter the damage from the 2007-2009
financial crisis, International Monetary Fund staff repeated
earlier assessments that the steps had worked but face
diminishing returns.  However, in new research, they also said
central banks could face severe los