The Association of Importers and Exporters of the Argentine Republic (AIERA) plans to relaunch a payment system for foreign trade operations between Mercosur member countries that was implemented 13 years ago, with the aim of preserving foreign currency in dollars for the country's savings and for operations outside the zone.
In a timely manner and for the implementation of this system, there was an agreement between the BCRA and the Central Bank of Brazil (2008).
The proposal of the business association made up of small and medium-sized national companies focuses mainly on reducing the demand for foreign currency and promoting the use of local currencies..
Among other things, the AIERA press release He stressed that “the issue of the debt crisis was recently added, due to the external over-indebtedness experienced in recent years. For this reason, the country is currently in the middle of a very tough and difficult negotiation with private holders of external bonds and with the International Monetary Fund, trying to reach a sustainable medium- and long-term agreement that will allow a fundamental solution to this problem without affecting development possibilities.”
Another special consideration highlighted in the statement says: “This sum of difficulties makes it evident that, even if the debt negotiations are successfully concluded and an ambitious economic stimulus plan is launched for the recovery of the productive system, the country will have to make very careful use of foreign currency in the coming years, in order to increase its reserves and meet external requirements and obligations, starting in 2023 and 2024.”
These considerations have led AIERA to now propose relaunching this agreement with Brazil and seeking the adhesion of the rest of the Mercosur countries.
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