The BCRA Changed the Procedure for Advance Payments of Imports

The Board of the BCRA has decided to change the procedure for advance payments of some imports. In October, they shall be made as from the customs clearance of goods. This measure is only applicable in cases where imports are being made for a higher value than that which has been entered, thus affecting 13% of imports.

It will be in force until October 31 and seeks to balance payments and goods entered into the country.

The BCRA has found out that payments made since June have been recorded for a higher value than that of the customs clearance of goods.

In June, imports were recorded for a FOB value of 5,600 million, while payments amounted to 5,900 million. In July, the ratio was 5,400 million worth of FOB imports and payments for 5,700 million. As of August, the difference between payments made and goods imported increased. In August, there were 5,400 million in goods imported and 6,200 million in payments made through the forex market; and in September, there were 5,500 million in imports and 5,900 million in payments.

October 5, 2021..