Evidently, these developments have to be seen against the backdrop of the financial and sovereign debt crises of the past six years. For sure, there have been good reasons why central banks helped contain the crises through additional policy measures.
The brief lesson here is that emerging countries should be very ready to put on tough prudential controls, and should ignore those who claim (as happened in Australia during the 1980s) that such prudential controls are “re-regulation by the back 12  The other much rarer possible use of capital controls is that, in extremis, a crisis might be sufficiently bad to justify a standstill on repayment of debt, in the context of “private sector involvement” (“bailing-in the private sector”).