Removal of Exchange Control Restrictions
Aim: To increase the amount Maltese citizens can send or invest abroad in foreign currency; to provide greater flexibility for local trade to operate in foreign exchange.
Measure: Liberalisation of exchange control – removal in stages of the major part of the remaining controls.
- Repeal of Exchange Control Act;
- Proposal of Exchange Transactions Act: provide necessary infrastructure for full liberalisation, give Minister of Finance authority to introduce measures & controls in times that would be critical for the balance of payments.