Iceland Exits Krona Controls Eight Years After Banking Crash
- Government hopes move will help ease capital ‘inflow problem’
- Central bank also tightens rules against carry trade further
Iceland Ends Capital Controls to Help Economy Recover
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Iceland is back.
At a press conference on Sunday in Reykjavik, the government 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. Iceland’s krona plunged and bond yields climbed.