Capital controls could be gradually relaxed from late 2016 if the political landscape remains stable and Greece continues to implement the reforms envisaged in its economic adjustment program, Fitch Ratings said in a press release on Wednesday.
The agency added however, that Greek authorities will possibly want to see further improvements in investor and customer confidence before capital controls are eased. “In our view, the economic and political environment remains fragile and confidence has not yet returned to the financial system. Our standalone viability ratings assigned to the Greek banks remain at ‘f’,” Fitch said.
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