by Kostas Zaligkas
ATHENS, May 31 (Xinhua) -- Greece's finance ministry announced Thursday that it would further relax the capital controls implemented in the country in July 2015.
From June 4, 2018 the monthly cash withdrawal limit will increase from 2,300 euros to 5,000 euros (2,683 U.S. dollars to 5,833 U.S. dollars) per depositor, according to an emailed press statement.
Specifically, the ministry has decided to allow the withdrawal of up to 5,000 euros per calendar month, per depositor, per credit institution both in Greece and abroad, according to the announcement.
Also, the amount of cash that can be carried abroad will increase from 2,300 euros to 3,000 euros per person per trip, and bank wire transfers abroad can be up to 4,000 euros per client per calendar month as of July 1, 2018.
Finally, the finance ministry is permitting an increase in the amount that can be sent to foreign legal entities and traders from 20,000 euros to 40,000 euros per client, per day.
"The goal is to completely lift the restrictions as soon as possible while ensuring financial and macroeconomic stability," the finance ministry stressed in the statement.
Greek authorities introduced the capital controls three years ago when the country was still negotiating its third bailout with international lenders in order to avert a collapse of the banking system.
Greece is expected to exit the third bailout since 2010 this August. (1 euro = 1.17 U.S. dollars)
