Cyprus Partly Eases Capital Controls

Cyprus has further eased capital controls imposed last month to prevent a run on deposits, raising the threshold for transactions that do not require prior approval by the central bank, the finance ministry said on Thursday.

With the latest decree, Cyprus has permitted transactions up to 500,000 euros [$650,300] domestically without prior vetting, the ministry said in a statement.

Banks on the island were shut down for nearly two weeks in March after Cyprus agreed a 10-billion-euro [$13 …

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