Cyprus to limit cash, credit-card use abroad - report

NICOSIA, March 27 Wed Mar 27, 2013 10:53am EDT

NICOSIA, March 27 (Reuters) - Cyprus is to impose a ban on cashing cheques and limit the amount of cash that can be taken out of the country under a series of measures to avert a run on the country's crippled banks, a Greek newspaper reported on Wednesday.

The Kathimerini newspaper, citing a government decree, said the measures would remain in force for seven days. They will allow Cypriot businesses to pay for imports if they provide authorities with the necessary documentation but limit the use of credit and debit cards outside Cyprus.

Officials at the Cypriot Central Bank and Finance Ministry told Reuters that the newspaper report was based on draft proposals and a final version had yet to be adopted.

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