“Capital controls are expected to remain in place in Iceland until 2015, according to the country’s central bank. The restrictions have had a profound effect on the asset allocation of Icelandic pension funds, leaving them only limited room to manoeuvre, as they are unable to make new investments in assets denominated in foreign currencies. As a result, the asset allocation of Icelandic pension funds today largely consists of government guaranteed paper and bank deposits. The central bank had introduced measures to temporarily restrict currency outflows following the country’s banking crisis in 2008.”
http://www.ipe.com/icelandic-capital-controls-to-remain-until-2015-central-bank/40226.fullarticle
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