The BOPREAL are the instruments designed with the objective of solving commercial debts abroad.
He central bank(BCRA) published a guide so that importers can subscribe to the Bonds for the Reconstruction of a Free Argentina (BOPREAL). They indicated that all those will be able to participate in these tenders. companies that have debts with foreign suppliers prior to December 12, 2023.
The BOPREAL are the instruments designed and offered by the BCRA with the objective of solve the growth of commercial debts abroad arising from the exchange delay and the consequent lack of foreign currency which makes the possibility of meeting said obligations immediately unfeasible.
BOPREAL: who can subscribe and how to do it
You can subscribe it human and legal persons that they have outstanding debts with foreign creditorsr for imports of goods with customs clearance or registration before December 12, 2023 and imports of services provided prior to that date.
To subscribe you must carry out the operation through a financial institution. The required documentation be similar to that necessary to access the exchange market to cancel import debts.
You can subscribe up to the amount pending payment. In the case of the importers of goodsis the one that appears in the monitoring of payment of imports of goods (SEPAIMPO). In the case of the service importersthey must carry out a sworn declaration informing the bank outstanding debt. The debt pending payment must be consistent with what is reported in the “Registry of Commercial Debt for Imports with Foreign Suppliers” established in Joint General Res. 5466/23 Art. 10 before January 10, 2024.
Debts abroad: the Are BOPREAL the only option?
The debts that importers have abroad also can be settled with dollars from abroad, There is currently no possibility of accessing the exchange market. nor carry out MEP dollar exchange operations. Financing operations cannot be carried out either. either imports or advance exports to cancel debts prior to December 12.
From the monetary entity they indicated that it is worth remembering that if exchange operations through the purchase/sale of securities settled in dollars abroad, access to the MLC is lost for 90 daysto exception that said operation results from the sale of BOPREAL acquired in primary bidding or for up to the amount of the difference between the sales value of the BOPREALs acquired in primary bidding and their nominal value.
BOPREALs can also be settled abroad and thus settle debts.. The Sale in dollars in the local market does not enable the cancellation of the debt for imports prior to December 12.
Source: Ambito
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