It is reported on the National Broadcasting Service that one of the owners of KPMG in Iceland, a private limited liability company, states that the Icelandic króna will depreciate very quickly if the capital controls are lifted swiftly and the government needs to evaluate whether or not counter actions will be required.
Yesterday, Iceland Insider reported that the The Ministry of Finance and Economic Affairs had commissioned a committee to help Iceland lift its capital controls. Svanbjörn Thoroddsen at KPMH is quoted on rúv.is stating that no route will be painless for the Icelandic economy, nevertheless the best option would be to lift the capital controls quickly.
Adding to this, Svanbjörn says “it is likely the krónur will depreciate very quickly until it reaches an equilibrium. Any action taken will first and foremost focus on softening the blow of the krónur falling so swiftly”.
It is reported on the National Broadcasting Service that one of the owners of KPMG in Iceland, a private limited liability company, states that the Icelandic króna will depreciate very quickly if the capital controls are lifted swiftly and the government needs to evaluate whether or not counter actions will be required.
Yesterday, Iceland Insider reported that the The Ministry of Finance and Economic Affairs had commissioned a committee to help Iceland lift its capital controls. Svanbjörn Thoroddsen at KPMH is quoted on rúv.is stating that no route will be painless for the Icelandic economy, nevertheless the best option would be to lift the capital controls quickly.
Adding to this, Svanbjörn says “it is likely the krónur will depreciate very quickly until it reaches an equilibrium. Any action taken will first and foremost focus on softening the blow of the krónur falling so swiftly”.
