The Central Bank of the Argentine Republic (BCRA) announced this Thursday (21.11.2024) a new measure that facilitates the payment of imports with local currencies, allowing importers to advance the established deadlines. The decision was formalized through the Communication “A” 8133, which introduces significant changes to current regulations.
Specifically, this provision eliminates the 30-day payment period for imports when using local dollars deposited in accounts with local financial institutions. However, This mechanism can only be applied to goods and services imported starting December 12, 2023; everything imported before that date must be paid through Bopreales.
The regulations specify that these transactions may include goods not considered capital goods, provided they represent less than 10% of the total FOB value of the purchase. To comply with this requirement, the financial institution must obtain a sworn statement from the client certifying that the remaining goods are spare parts, accessories, or materials necessary for the operation, construction, or installation of the capital goods acquired.
It is important to note that this measure does not affect the current regulation that requires importers who acquire dollars in the alternative financial market, such as the Electronic Payment Market (MEP), to wait 90 days before being able to access the official exchange market.
With this flexibility, the BCRA seeks to speed up import payments and ease foreign exchange restrictions for those importers who have their own foreign currency, thus promoting greater fluidity in the country's foreign trade.
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