The monetary authority, which in recent days has strengthened restrictions on imports to protect its scarce international reserves, reduced the term for them to access dollars from 90 to 60 days. Argentina has an important international role as an exporter of soybeans, wheat and corn.
The restrictions imposed by the BCRA generated uncertainty in the industries regarding whether they will be able to count on the imported inputs necessary to produce and the higher costs that importing at a higher exchange rate will generate.
“It also reduced from 365 to 60 days the term to access the foreign exchange market to pay inputs that will be used for the local production of goods to be exported, when advances or pre-financing of exports are settled simultaneously,” the central bank said.
“In the case of these products, it will always be considered that they are inputs for the local production of goods for export,” he added.
The government of President Alberto Fernández is going through a strong political and economic crisis that led to the resignation of Economy Minister Martín Guzmán on Saturday.
Recently, the main agrarian entities of the country called a commercial strike for July 13 against government policies and the lack of diesel and fertilizers.
Greater access to the market for imported auto parts, fertilizers and phytosanitary products
Agroindustry
The BCRA also decided to improve the financing conditions for the importation of fertilizers, phytosanitary products and the necessary inputs for their production in the country.
The decision of the Board of Directors of the BCRA means reducing the term for access to the foreign exchange market from 90 days to 60 days. It also reduced from 365 to 60 days the period for accessing the foreign exchange market to pay for inputs that will be used for the local production of goods to be exported, when advances or pre-financing of exports are settled simultaneously.
In the case of these products, it will always be considered that they are inputs for the local production of goods for export.
Automotive industry
The Board of Directors also simplified market access to automotive terminals for the production of units destined for export. This measure will allow the terminals to access the market for the payment of imports of auto parts that are used in the production of units that will be exported.
In another decision that improves access conditions, payments made by companies that collect funds paid by residents to non-resident providers of digital services in the country may be processed.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
