The Argentine Central Bank Created a Registry Listing Foreign Exchange Data on Exporters and Importers

Any person included in the list to be published by the Argentine Central Bank (the “BCRA,” for its Spanish acronym) will be deemed as a “Governed Subject” and must be listed in the Registry before April 30, 2021 if they wish to access the foreign exchange market as from May 1, 2021 for transactions involving outflows of funds including swaps and arbitrages. This requirement will not apply when accessing the foreign exchange market for repayment of foreign currency financings granted by local financial entities.

Exporters and importers who trade significant volumes of goods will be deemed as Governed Subjects pursuant to “C” Communiques that will be issued by the BCRA in the future.

Governed Subjects will have to re-register before March 31 of each year. In addition, they will have to report any changes in their registered information within 15 business days of the change. And to do, they’ll need to use a specific application.