Iceland to Lift Capital Controls Imposed After Financial Crisis
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Reykjavik, Iceland’s capital. The nation’s capital controls were meant to last six months.CreditMatt Cardy/Getty Images
REYKJAVIK, Iceland — After Iceland imposed capital controls during the global financial crisis, the move helped stabilize the country’s banking system, putting the economy on a path to recovery.
As Iceland now unwinds those controls nearly seven years later, the government is trying to prevent a mass exodus of money and keep the country from backsliding.
It is a pivotal moment for a country that came to symbolize the financial crisis, after its three main banks imploded in 2008. While some economists point to Iceland as a case study of how to manage tumult, its ability to successfully lift capital controls will test that strategy…
Iceland to Lift Capital Controls Imposed After Financial Crisis
