Iceland expects ‘significant’ progress in lifting capital controls this year

Central Bank of Iceland

Iceland's authorities expect "significant progress" this year in the removal of capital controls imposed during the financial crisis, the IMF said on Friday, as it published its Article IV report on the country.

Icelandic authorities are working to finalise and implement an updated strategy for lowering capital controls, but while the economy has seen a dramatic recovery, "vulnerabilities remain and risks are tilted to the downside", the IMF said.

It is also a "difficult juncture" for the Centra

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