BCRA Extended Communique “A” 7030 as Amended

Through Communique “A” 7094 dated August 27, 2020, the Argentine Central Bank (the “BCRA”, after its acronym in Spanish) established that certain provisions of Communique “A” 7030 as supplemented (see https://www.marval.com/publicacion/bcra-nuevas-modificaciones-y-aclaraciones-a-la-comunicacion-a-7030-13718) will remain in force up to and including until October 31, 2020 .

In addition, within the framework of the exceptions to the requirement to obtain prior BCRA approval to access the FX market when external liquid assets are held in an amount exceeding USD 100,000, will not be considered for purposes of such maximum amount, partially or totally, assets corresponding to funds held in a foreign bank account as a result of foreign financial indebtedness in an amount that does not exceed the equivalent of the outstanding amount of principal and interest, as of this amendment, in the next 365 calendar days. Previously, such period was of 120 calendar days.

These same provisions were previously extended up to and including August 31, 2020 by means of Communique “A” 7079 dated July 31, 2020, that also allowed access to the FX market without the BCRA’s prior approval to repay outstanding obligations for the import of goods guaranteed by foreign financial institutions or export credit agencies.