The new regulations were not well received by importers, who demand that the government apply clear and lasting rules of the game.
In the context of the economic and financial crisis that the country is going through, the Central Bank put new restrictions to access dollars. The The BCRA’s board reported last Thursday that the Business that have liquid assets originated in the formation of external assets must first have these resources for the payment of obligations abroad.
In addition, they noted that it extends to 90 days before and 90 days after the restriction to perform operations of sale of Titles public in local currency with settlement in foreign currencies for companies that require access to the official exchange market.
The Central Bank’s board of directors also established other measures for the access of companies to the Single and Free Exchange Market (MULC) “with the purpose of ordering the payment of obligations for the importation of goods”, among which it was established that companies should request authorization prior to the BCRA to access the exchange market for the payment of commercial obligations abroad if they reduced the amount in force as of January 1, 2020.
Against this, from the Chamber of Importers warn that this new regulation toughens, in part, Communication “A” 7001 published a few weeks ago by the enforcement authority, which legislated “backwards” and punished with the prohibition of rotate payments anticipated abroad to those companies that, on the date of entering the single market and free of changes and in the 30 days prior to it, had purchased dollar “MEP” or dollar “counted with liqui”.
The new regulation allows payments without registration up to $ 250,000.
New rules of the game
“This period changed from 30 to 90 days, leaving no room for maneuver to many companies whose imports must have a Prepaid how commercial condition to start their manufacturing at origin “, they warn from the entity.
As they explain, if they have a “MEP” or “cash-settled” dollar, they cannot make any outflow of foreign currency, that is, it is not only for advances but also for all payments abroadr.
This new determination obliges companies to use their value reserves (savings) in foreign currency to pay for imports, being able to enter the Single Exchange Market only in cases where they do not have this possibility, and through an authorization prior to the Central Bank.
The Central Bank established other measures for the access of companies to the Single and Free Exchange Market.
“I know removes well the possibility of paying freely to the Exterior for the commercial commitments made between companies based in Argentina and exporters in its different origins, “the Chamber said in a statement.
Another issue that stands out is the ceiling for payments without prior authorization from the BCRA, “because the official destinations during 2020 are compared against payments made on that same date, leaving many companies with no margin to make import payments,” they indicate.
In addition, the new regulation allows payments without registration up to $ 250,000.
From the Chamber they conclude that it is necessary “to apply clear and lasting rules of the game so that the business sector can make decisions at an already difficult moment, going through an unprecedented pandemic and with the latent risk of lowering its blinds.”
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