Iceland capital controls to be lifted this year

“Initially the controls were only meant to last for a relatively short period of time but have now been in place for over six years.  A large amount of capital, up to 900 billion Icelandic kronur (ISK) according to a report from the finance ministry, is likely to leave the country, since around 95 percent of the banks creditors are foreign.  According to [a newspaper] there has been talk about somehow forcing the exchange of offshore currency and implementing an exit tax of around 35 percent on all transfers out of the country.  Although it is not yet clear what measures will be taken, the prime minister has promised that it will not involve further financial burden for Icelanders, many of whom lost their life savings.”

https://euobserver.com/beyond-brussels/127152

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