Iceland capital controls to be lifted this year

The first major steps towards lifting capital controls in Iceland, in place since the economic crisis hit the country in the autumn of 2008, will likely be taken later this month.

The capital controls were implemented as key part of an economic plan which the Icelandic government organised in cooperation with the International Monetary Fund (IMF) in the wake of the crisis.

They were meant to prevent capital outflow as the country faced both banking and monetary crisis after the f...