asked the Minister for Finance if, in view of recent criticism of Irish foreign exchange controls by research economists and financial institutions, he will relax such controls and redeploy those engaged on them on more productive work.
Written Answers. - Foreign Exchange Controls.
76.
The exchange controls are designed to prevent destabilising capital flows and to help protect the external reserves. The restrictions relate mainly to capital outflows. A number of relaxations were introduced over the past year and the controls continue to be kept under review by the Central Bank and my Department. The administrative arrangements arising from the controls are kept to the minimum necessary, consistent with the effectiveness of the controls.