The Board of Directors of the Central Bank of the Argentine Republic (BCRA) defined today (13.12.2023) the new conditions for access to the Free Exchange Market (MLC) for the Imports of goods and services processed from the date, through the Communication A7917,
The main objective of this decision is to normalize the flow of imports that had been virtually halted by the accumulated levels of commercial debt.
The established conditions aim to eliminate bureaucratic and administrative obstacles that required authorizations from other national government agencies in order to access foreign currency to settle foreign trade obligations.
"The expectation of a marked improvement in trade balances in the coming years will allow for a deregulation process that will culminate in the total elimination of foreign exchange restrictions," the BCRA said.
However, the entity pointed out that due to the current state of international reserves and the stock of unpaid commercial debts to date, "It is prudent to undertake a gradual and orderly normalisation process".
Thus, the BCRA Board of Directors established Differentiated payment terms according to the tariff position of the different imported goods and services, which will allow for the management of foreign currency during the coming months, characterized by the low seasonality of exports.
In relation to outstanding imports, the Board of Directors of the BCRA established, through the Communication A7918, general parameters of one or more instruments in foreign currency that may eventually be subscribed with pesos, with the objective of ensuring the availability of foreign currency on specific dates and for specific amounts.
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