September 30th, 2009 | Posted in Financial Advicer
The International Monetary Fund warns that despite signs that the recession is easing, banks are not nearly out of the woods yet. A new report says that banks face another $1.5 trillion in writedowns on top of the $1.3 trillion that they have already taken. “We are on the road to recovery, but this does not mean that risks have disappeared,” one expert says.
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