The Central Bank announced on April 9 that it has modified several restrictions related to the foreign exchange controls, introducing new regulations aimed at easing requirements for both individuals and companies.
The changes are significant as they affect how exporters and debt payments operate, potentially impacting Argentina’s economic environment. The Central Bank, led by Santiago Bausili, said the new measures include benefits for both physical persons and businesses.
For individuals, the Central Bank has removed the requirement to liquidate remaining foreign currency from goods exports. Additionally, it eliminated the US$50 limit for cash withdrawals made abroad using credit cards. These updates were communicated through Communication “A” 8417.
For companies, most of the adjustments involve extending deadlines for bringing in export proceeds. The timeframes now vary depending on product type. Companies with headquarters in Argentina exporting to their own branches abroad will have up to 180 days if annual amounts do not exceed $200 billion pesos. For those exporting clothing or similar goods, as well as space and nuclear products, deadlines have been extended up to 365 days.
The Central Bank also announced that companies can now take on debt in currencies other than US dollars and are authorized entry into the Free Exchange Market (MLC) for reimbursement of loans granted by parent companies.
These decisions come at a time when the dollar is trading steadily without high volatility and its value is close to $1,400.
