More Companies Will Be Allowed To Take Loans Abroad Without The Obligation To Liquidate Foreign Currency In Argentina

Author:Ms Giselle Geuna
Profession:Alfaro-Abogados
 
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New Central Bank Regulation

The Central Bank (BCRA) has adopted a more liberal approach to the process regulating foreign exchange to allow exporters to deposit part of the proceeds from their sales abroad, and therefore improve their credit standing in dollars. The Government has also included in this facility, those companies that are participating in import substitution programs.

Companies may now enter into export trade finance transactions or obtain better terms of financing as funds could be assigned in escrow guarantees abroad for the repayment of the loan and eventually attached and collected in case of default. They can be used to pay the installments in case of restrictions to foreign exchange transfers, as it has been happening...

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