The system that comes into effect will allow companies that act both as importers and exporters to finance the purchase of inputs with their own suppliers or with international credit lines, from foreign or local banks.
As Ámbito anticipated, the Board of Directors of the Central Bank (BCRA) approved this Thursday application of a system of pre-financing of exports to the payment of imports, that will allow to mitigate the effects produced by the drought. The approved modality is a bridge to finance some US$3,000 million of imports.
The system that comes into force will allow companies that act both as importers and exporters finance the purchase of inputs with their own suppliers or with international credit lines, from foreign or local banks.
The operation of the system continues to have as its starting point the SIRA approved, which is the instrument that authorizes imports.
“The BCRA regulations adopt an already existing tool and apply it to the financing of imports, managing to distribute over time the lower availability of foreign currency due to the effect of the drought that affected agricultural production,” indicated the monetary authority.
With this new instrument, it is expected that the industries can regularize production chains guaranteeing a predictable and constant flow of inputs, at a lower financial costadded the BCRA.
Source: Ambito
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