May 24, 2018 / 7:29 AM / 7 months ago

Greece to raise cash withdrawal limit, paper says

ATHENS (Reuters) - Greece may loosen further capital restrictions imposed since the summer of 2015, raising the monthly limit of cash that can be withdrawn from bank accounts by at least 74 percent, Greek newspaper Kathimerini reported on Thursday.

A source close to the matter told Reuters there were deliberations on the issue, but a finance ministry official said there was no final decision yet.

Athens first imposed capital controls in the summer of 2015, to stem a flight of cash from its banks at the height of a debt crisis which led to its third financial bailout since 2010.

Individuals will be allowed to withdraw lump sums of 4,000-5,000 euros in cash per month from bank accounts, an increase from 2,300 euros at present, as of June, the paper said without citing any sources. It said the move had been agreed with the country’s EU/IMF creditors.

In February, the finance ministry similarly eased capital controls by raising the monthly withdrawal limit by 28 percent.

Reporting by Angeliki Koutantou; Editing by Catherine Evans

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