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Capital Controls to Be Lifted by the End of September, 2019

The Bank of Greece and the Greek government are ready to completely lift capital controls in Greece, media reports suggested on Thursday.

The restrictions to capital imposed in June of 2015 will be lifted by the end of September of 2019, the reports suggest, as both the Government and the Bank of Greece point to the many positive upgrades given to the Greek economy by major global rating agencies.

The capital controls in Greece have in effect been extremely loose in any case for quite some time now, as there are currently no restrictions in cash withdrawals conducted inside the country, and transactions with foreign entities have a very high monetary limit.

The complete elimination of capital controls, however, will send a strong signal to the international community that Greece is back on track, and that its economy is ready for the new, post-crisis era.

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