The Central Bank enabled companies to enter financial debt and capital contributions through the Cash Dollar with Settlement. He decided this yesterday at his usual Thursday board meeting. The entity clarified that it will apply in cases where it is also repaid through financial contributions and that this mechanism will not harm access to the official exchange rate for imports.
“Companies will be able to make capital contributions or enter financial debt into the country through the capital market when the repayment of these foreign currency settlements is also made through the capital market,” the monetary authority said in a press release.
The monetary authority clarified that the measure will cover the liquidation of bonds, negotiable obligations and repatriations of capital and income associated with direct investments that enter as of October.
“Companies that use this form of income must do so with the condition that the capital payments or the repayment of contributions are for at least one year and, in the case of ON (Negotiable Obligations) placed in the local market , have two years of grace,” explained the Central.
“In these cases, there will be no incompatibility to access the exchange market to carry out foreign trade operations,” the monetary organization completed.
Line for investment
productive
On the other hand, the BCRA decided to extend until March 31, 2024 the Financing Line for Productive Investment (LFIP), which provides special facilities for the development of Micro, Small and Medium Enterprises (MSMEs).
This line became the main way through which credits are channeled to MSMEs in the country. The average balance of financing granted between April 1 and August 31, 2023 through the LFIP reached $1.88 trillion and represented around 64% of loans to MSMEs and around 37% of total commercial loans .
To date, the loans granted through this line have accumulated disbursements of approximately $7.34 billion, reaching more than 474,200 companies.
As established by the standard, financial entities must maintain a financing balance within this line that is equivalent, at least, to 7.5% of their non-financial private sector deposits in pesos, calculated based on the monthly average of daily balances. to September 2023.
In the case of pre-financing of exports, financing of exports and/or financing of imports of inputs and/or capital goods -excluding services-, the amount to be allocated may not exceed the increase resulting from considering the average of the increases in the daily balances that are registered between October 1, 2023 and March 31, 2024, with respect to that registered on November 12, 2020 for the 2023/2024 quota – applying to the latter the exchange rate of September 30, 2023–.
The balances of pre-financing and incremental financing of the 2023/2024 quota will be considered at the exchange rate on the day of entry of funds from abroad.
Source: Ambito
