Central Bank of Iceland Plans to Permit Pensions to Invest Overseas Again
The Central Bank of Iceland plans to lift capital controls for its domestic pensions to invest abroad again. The capital controls were put in place in November 2008 which followed Iceland’s disastrous banking crisis. Three of Iceland’s privately-owned commercial banks: Kaupthing, Landsbanki and Glitnir ended up failing during the crisis. Iceland has rebounded since the banking crisis, as debt ratios are on a downward trajectory. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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