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Argentine Central Bank Enables Access to Foreign Exchange Market to Pay Old Import Debts

Likewise, importers who acquired BOPREAL will be allowed to sell securities with settlement against BY cable on a third-party account abroad.


Francisco Abeal - Juan Moreno,  February 7, 2024

Marval O`Farrel Mairal - Through Communication "A" 7952, published in the Official Gazette on January 25, 2024, the Argentine Central Bank (BCRA) allowed access to the foreign exchange market (FX Market) to pay debts originated before December 13, 2023, for importing goods with customs entry registration and services.

The main conditions to access the FX Market include:

1.            Whoever requests access must be a natural or legal person classified as SME.

2.            The total sum of the debts for imports of goods and services pending payment before December 13, 2023, must be less than or equal to USD 500,000.

3.            The total sum of debts must be registered in the "Registry of Commercial Debt for Imports and Foreign Suppliers."

4.            The debt must be declared, if applicable, in the last overdue presentation of the "Survey of Foreign Assets and Liabilities."

Access to the FX Market for paying these debts is available as from February 10, 2024.

Likewise, as from April 1, 2024, importers of goods and services that have acquired ‘Bonos para la Reconstrucción de una Argentina Libre’ (BOPREAL) bonds in a primary subscription will be allowed to sell them with settlement in NY Dollar to a third party account abroad.

marval.com

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