Following Iceland recently unveiling legislation to unwind capital controls, creditors including hedge funds could be facing a one-time stability tax of 39%.
Several funds flocked to Iceland after its 2008 collapse, snapping up distressed banking assets following the $85 billion default of the island’s three largest lenders.
Iceland’s legislation to unwind capital controls
As reported by ValueWalk, Iceland’s prime minister Sigmundur Davio Gunnlaugsson and finance minister Bjarni Benediktsson announced a plan to ease capital controls on Monday, which marks a huge step in the financial rehabilitation of the country. The announcement came almost 7 years after the capital...
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