------------------ ESP

Importers May Use New Financing for Debt Payment

Companies may use new financing from overseas lenders to pay commercial debts. This measure, adopted by the Board of the BCRA, expands the access to foreign currency.

According to this rule, importers may access the forex market for debt payments of imports of goods and services up to USD5 million without the BCRA´s prior authorization. The new financing must be arranged for, at least, the amount to be paid to the lenders abroad and for an average two-year term as a minimum.

In addition, importers may pay imports when goods are delivered at the port of origin or at the customs clearance.

Hence, the private sector has now the chance to settle their foreign commercial liabilities through new financial debts held abroad with an average term of at least two years.

This mechanism will improve importers’ situation by allowing them to envisage a payment horizon.

August 26, 2021.

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