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Capital controls to end on Monday

President Nicos Anastasiades has announced that Cyprus will eliminate the last of the capital controls, which were imposed in April 2013 as part of a €10 billion European bailout, on Monday 6th April.

Standard & Poors & Fitch lifts ratings

Standard & Poors lifted its rating on Cyprus to B, while Fitch revised its outlook on the country to ‘stable’ saying that the economy “has proved more resilient than previously expected”.

Capital controls could be lifted by year-end

The capital controls that currently hinder the repatriation of proceeds from the sale of property in Cyprus could be lifted by the end of the year if substantive progress is made on the economic adjustment programme.

Bank restrictions to be lifted (updated)

Update 25 October – Presenting the 2014 budget to parliament on Monday, Finance Minister Harris Georgiades said that restrictions on bank transactions that were imposed earlier this year will be gradually lifted by spring.

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