The Board of the BCRA has approved the implementation of the export pre-financing system for the payment of imports, allowing the mitigation of the drought effects. This measure is a bridge to finance around USD3,000 million from imports.
The system allows companies acting as both importers and exporters to finance the purchase of supplies with their own suppliers or with international credit lines granted by foreign or domestic banks.
The starting point of the system is the approved SIRA (Argentine Imports System), that is, the instrument that authorizes imports.
The regulation applies an existing instrument to the financing of imports, distributing over time the lower availability of foreign currency caused by the drought that affected agricultural production.
Industries are expected to manage supply chains normally, ensuring a foreseeable and constant flow of supplies at a lower financial cost.
