Iceland begins dismantling capital controls


The Central Bank of Iceland on Saturday took the first step in removing the country's crisis-fighting capital controls.

The central bank said it would, from Sunday, permit inflows of foreign currency for new investments and potential outflows of foreign currency that may derive from such investments in the future.

Iceland has imposed capital controls since November 2008, considering the measures necessary to stabilise the economy in the wake of the financial crisis that struck the country in Oct

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