Currency Restrictions to Be Abolished in a Few Years Skip to content

Currency Restrictions to Be Abolished in a Few Years

Currency restrictions could be fully abolish in two to three years, as Central Bank governor Svein Harald Oeygard stated while presenting the first items of a strategy to that effect in a meeting with the International Monetary Fund (IMF) delegate yesterday.

The Central Bank of Iceland. Copyright: Icelandic Photo Agency.

The strategy doesn’t include any dates for the time being, apart from the presented goal of executing the first stage of the plan by November 1 this year, Fréttabladid reports.

The first stage includes loosening the restrictions on the influx of capital, which means that foreign investments can take place again.

Franek Rozwadowski, the delegate of the IMF in Iceland, told Reuters before yesterday’s meeting that the reconstruction of the banks and the enlarging of the currency reserves were preventing the abolition of the currency restrictions.

According to Fréttabladid, that was also discussed during the meeting.

Click here to read more about the currency restrictions.

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