Public ID: PID-GXREJG
Changes to capital controls in Argentina affecting foreign trade
Trade barrier summary
New measures have been introduced by the Argentine Central Bank, aiming to restrict access to foreign exchange for businesses. Communiques A7106, A7094 and A7079 state that business must seek authorisation from the Central Bank to access foreign exchange to pay for imported goods or services, or to make any other payments abroad. Businesses also need to file an affidavit stating that in the past 90 days they did not sell bonds against foreign currency (and commit to not doing so in the following 90 days). To repay financial loans with foreign parties due until 31 March 2021, businesses must present a refinancing plan (where the principal must not exceed 40% and the outstanding amount needs to be refinanced with a life of over two years). These policies may be burdensome for overseas businesses.
27 July 2020
18 December 2020