The Argentine Central Bank further Extended Provisions Governing Access to the Foreign Exchange Market
The BCRA extended provisions governing the BCRA’s requirement for prior approval before accessing the foreign exchange market for the payment of the import of goods and the repayment of financial indebtedness with foreign related counterparts.
Through Communique “A” 7151 dated October 29, 2020, the Argentine Central Bank (the “BCRA” after its acronym in Spanish) ratified that certain provisions of Communique “A” 7030, as amended, relating to the payment of import of goods or debts derived from the import of goods, and the repayment of principal of financial indebtedness with foreign related counterparts, will remain in effect until December 31, 2020.
In addition, it established that, as of October 30, 2020, before the payment of the import of goods, entities must verify that affidavits submitted by clients are compatible with the data existing in the BCRA according to the online system implemented to that end.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.