Mar
12

Iceland Exits Capital Controls Eight Years After Banking Crash

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  • Government hopes move will help ease capital ‘inflow problem’
  • Central bank also tightens rules against carry trade further

Iceland is back.

The government at a hastily called press conference on Sunday in Reykjavik announced that effective Tuesday it will lift almost all of the remaining capital controls, allowing its citizens, corporations and pension funds full access to the global capital markets.

The move ends an eight-year struggle to clean up after the 2008 banking collapse, which triggered the worst recession in more than six decades and enveloped the north Atlantic island of 340,000 people in political turmoil…

Iceland Exits Capital Controls Eight Years After Banking Crash

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