Greece’s EU/IMF lenders approve further easing of capital controls

Greece’s international lenders have approved the further easing of capital controls imposed by Athens last summer, a Bank of Greece official said on Monday, requesting anonymity.

Greece adopted capital controls to stem a flight of deposits when it almost toppled out of the euro zone during protracted talks with its EU/IMF lenders for a new bailout deal.

The controls have gradually been eased and central bank chief Yannis Stournaras said in July they would be loosened further as confidence in the country’s banking system returns.

The proposed changes include no restrictions on withdrawals for new deposits and allowing withdrawals for loan repayments.

Stournaras has sent the final proposals to the European Central Bank which is expected to formally accept them, the official said.

Source: Reuters