01 Oct BCRA Communication “A” 7123 Ref: Circular CAMEX 1 – 863
Posted at 22:32h in Regulatory Changes – LATAM
October 1, 2020 – The BCRA adopted the following resolution effective as of October 2, 2020 through Communication “A” 7123:
- Introduces changes in the application of foreign currency charges for exports of goods and services.
- Establish that the amount by which importers can access the exchange market will be increased by the equivalent of 50% of the amounts that, as of October 2, 2020.
- Establish that the BCRA’s prior compliance requirement for access to the foreign exchange market shall not apply to the repatriation of direct investments of non-residents in companies that are not controllers of local financial entities.
- Establish that, to the extent that the requirement of prior compliance for access to the exchange market is in force for the cancellation at maturity of capital services of financial indebtedness with the outside of the non-financial private sector when the creditor is a counterparty related to the debtor, such requirement will not be applicable to the extent that the funds have been entered and settled by the exchange market as of October 2, 2020 and the debt has an average life of not less than two years.
Jurisdictions affected: Argentina
For more information, visit Banco Central de la República Argentina.