Argentine Central Bank Eases Access to Foreign Exchange Market to Pay Interests to Related Counterparties

On July 4, 2024, through Communication "A" 8059, the Argentine Central Bank (BCRA), amended the foreign exchange regulations.

First, the BCRA established that access to the FX Market would be granted to pay interest on commercial debts for imports of goods and/or services with related parties, provided they mature as of July 5,2024.

Second, it established that access to the FX Market would be also granted to pay interest on commercial debts not included above and financial indebtedness. This will be allowed when the creditor is a related party, provided the other applicable requirements are met and that the payment is made simultaneously with the settlement for an amount no less than the amount paid from:
 

1. 1. 1. new financial indebtedness with an average maturity of no less than two years and providing for at least one year's grace period for the payment of principal,
         
         2.  new direct investment contributions from non-residents.
          

Finally, through this Communication, the BCRA established that new financial indebtedness and new direct investment contributions used within the framework of the above may be transferred and settled by the debtor or by another resident related company.