Fund relents on capital controls


Capital controls can have a role in safeguarding the stability of teetering economies, the IMF said on Tuesday, recanting its position that such measures are entirely undesirable.

In its Global Financial Stability Report, chapters two to four of which were released on Tuesday, the Fund said that when other policy measures, such as reserve accumulation, rate cuts, and a tightened fiscal stance fell short, "capital controls may have a role in complementing the policy toolkit." It maintained, howev

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