On November 21, 2024, the Central Bank of Argentina (“BCRA”) issued Communication “A” 8137 (the “Communication”), which introduces important modifications to the exchange regime.
Among the main changes are:
- Exporters of products such as wheat, soybeans and derivatives will have 30 calendar days to enter and settle foreign currency.
- The term to settle collections of exports of goods and services, sales of non-financial non-produced assets, reimbursements of import payments, insurance collected for damaged imported merchandise, etc., is extended to 20 business days.
- The term to access the foreign exchange market and make payments for “other personal, cultural and recreational services” to unrelated companies is reduced to 30 calendar days.
- Exporters must enter and settle advances and external financing within 20 business days.
- Entities may accept a sworn statement to justify funds in foreign accounts over USD 100,000, if they come from recent financing.
The Communication came into effect on November 29, 2024.
