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Cyprus to lift Capital Controls

Addressing a conference in Nicosia on the 5th of March in the presence of ECB President Mario Draghi, the Central Bank Governor Ms. Chrystalla Giorkatzi stated that it is expected that all capital controls will be lifted by the end of the first quarter of 2015.

The capital controls have been imposed two years ago and most of them have been gradually lifted but there are still certain restrictions in place. This is a very positive development which is expected to boost economy, trade and business in general but it also represents an important sign of the economic recovery of Cyprus which allowed for these restrictions to be lifted.

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