On November 7, 2024, the Central Bank of the Argentine Republic (“BCRA”), establishes through communication “A” 8129 (the “ Communication”) changes applicable to the repayment of financial indebtedness. Among them:
Early access to the Free Foreign Exchange Market (“MLC”).
The conditions were adjusted so that residents may access the MLC before the established deadlines, in order to cancel Services of financial indebtedness with foreign countries and Services of debt securities issued locally.
Conditions for early access:
– Purchased funds must be deposited in foreign currency accounts of the holder in local banks.
– Access must be made within 60 days prior to the due date of the corresponding payment.
– No more than 10% of the total amount of the service per day may be exceeded.
– The financial entity must verify that the indebtedness complies with the exchange regulations in force authorizing the access.
Additionally, in order to transfer funds abroad for the payment of principal of debt securities issued as from November 8, 2024, it was established that the payment may only be made after 365 calendar days have elapsed from the date of issuance.
