Amidst the drain on reserves, the Central Bank of the Argentine Republic (BCRA)) imposed new controls on import payments tonight, causing concern among businessmen involved in foreign trade. Importers warned that the decision could paralyze some operations and cause shortages of supplies. The BCRA released the Communication «A» 7138, through which it established limits on automatic payments and raised the requirements to access the exchange market to settle imports of goods with pending customs entry registration. The monetary authority indicated that "the intervening entity must verify that the importer has the declaration made through the Comprehensive Import Monitoring System (SIMI) in 'EXIT' status, in relation to the goods involved, in all cases in which said declaration is a requirement for the registration of the import destination request for consumption." The head of the Chamber of Importers (CIRA), Rubén García, warned that the Secretariat of Commerce "It is not issuing those non-automatic licenses, or it is doing so in dribs and drabs. Only the automatic ones are coming out«. As part of its battle to preserve dollars, the BCRA also expanded the information regime of «Advance on foreign exchange operations» provided when the operations «involve access to the foreign exchange market for a daily amount that is equal to or greater than the equivalent of US$ 50.000»
This decision implies a significant reduction in the level that has been in effect until now, which will further hamper operations. Importers complain that the procedures for authorizing non-automatic import licenses are blocked, So getting that "exit" condition will be very complicated.
For this reason, the little that was entering the country in this way could be blocked, warn companies that are already facing supply problems.
Source: Telam
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