IMF's Lagarde sees new global risks on the horizon as central banks use unconventional policies

The International Monetary Fund's (IMF) Christine Lagarde has said that she sees new global risks on the horizon, labelling uncertainty over recovery of the Eurozone as an old risk.

Saying that the worst is "most likely" over for East Europe as most countries have returned to growth, Lagarde warned that the lesson of the crisis is not to turn away from integration.

Lagarde said that unconventional monetary policies pursued by the big central banks - the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan - have had consequences for capital flows and that unwinding these policies would need to be carefully phased.

The IMF boss also said that the fiscal situation in the US - specifically referring to the fiscal cliff and debt ceiling - were also risks to global growth.