Bundesbank at odds with new IMF position on capital controls


Andreas Dombret, a member of Deutsche Bundesbank's executive board, has made it clear that the Bundesbank views the use of capital controls as inappropriate in almost all circumstances, a position that differs from new guidance issued by the International Monetary Fund (IMF).

During a speech on December 6 to the German-Brazilian Chamber of Industry and Commerce, Dombret left little room for misinterpretation. "In the Bundesbank's view, measures restricting capital flows should be a last resort;

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