The European Central Bank (ECB) late on Monday responded posivately to a request by the Bank of Greece (BoG) to loosen capital controls in the country
According to a BoG official, the move had been announced by central bank governor Yannis Stournaras last week. The decision is expected to be published in the Government Gazette.
The proposed changes include no restrictions on withdrawals for new deposits and allowing withdrawals for loan repayments.
Greece adopted capital controls in 2015 to stem a flight of deposits during dramatic negotiations with its international lenders for a new bailout deal.