Under Communication A 7917, the Board of the BCRA has established today new conditions to access the Free and Single Foreign Exchange Market (Mercado Único y Libre de Cambios, MULC) for importing goods and services since December 13, 2023.

This measure seeks to normalize the flow of imports that virtually came to a halt due to the accumulated commercial debt.

Moreover, it is intended to overcome the bureaucratic and administrative hindrances that involved asking for authorizations from other National Government agencies to buy foreign currency for payments of forex transactions.

The expectation of significant improvements in the trade balance for the coming years will enable the implementation of a deregulation process that would eventually remove all foreign exchange restrictions.

However, the current situation of the international reserves and the stock of outstanding commercial debts call for a gradual and orderly normalization process.

In this sense, the Board of the BCRA established different payment terms—according to the tariff position of the imports of goods and services involved. This measure seeks to manage foreign currency in the coming months characterized by seasonally low exports.

As regards outstanding payments of imports, the Board of the BCRA established-through Communication A 7918-the general parameters for one or more foreign currency instruments that may eventually be subscribed in pesos to ensure the availability of foreign currency on specific dates and amounts.

December 13, 2023