The Board of Directors of the Central Bank (BCRA) defined this Wednesday the new conditions for access to the Free Exchange Market (MLC) for imports of goods and services that are processed from that date.
The main objective of this decision -through Communication A7917- is to normalize the flow of imports that was virtually stopped by the levels of accumulated commercial debt.
According to the entity, the established conditions aim to eliminate bureaucratic and administrative obstacles that required authorizations from other agencies of the National State for the purposes of being able to access foreign currency to cancel foreign trade obligations.
“The expectation of a marked improvement in the trade balance in the coming years will allow a deregulatory process to be carried out that will culminate in the total elimination of exchange restrictions”they said from the BCRA.
However, due to the current state of international reserves and the stock of unpaid commercial debts to date, ““It is prudent to undertake a gradual and orderly normalization process,” the monetary authority reinforced.
In this sense, the BCRA Board of Directors established differentiated payment terms according to the tariff position of the different imported goods and services which “will allow foreign exchange to be managed during the coming months, characterized by the low seasonality of exports.”
In relation to imports pending payment, the BCRA Board of Directors established, through Communication A7918, the general parameters of one or more instruments in foreign currency that may eventually be subscribed with pesos, with the objective of ensuring the availability of foreign currency on specific dates and amounts.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
