The Board of Directors of the Central Bank of the Argentine Republic simplified access to the official exchange market for the productive sectors, taking into account the usual commercial conditions transmitted by company directors and sector chambers as part of the conditions established in Communication A7030.
The decisions are the product of the instances of dialogue held by the President of the Central Bank, Miguel Pesce, and the Vice President, Sergio Woyecheszen, with the productive sectors in order to overcome the inconveniences that may arise for productive activity in complying with the Communication. A 7030, which provides the conditions for access to the Single and Free Exchange Market (MULC).
Among the measures adopted, direct access to the Single and Free Exchange Market to make advance import payments was raised from US$ 250,000 to US$ 1 million. This measure has a clear sense of facilitating imports to SMEs.
In addition, a freely available balance of US$ 100,000 and funds that could not be used by the client as they are reserve or guarantee funds constituted by virtue of the requirements set forth in contracts of indebtedness abroad or funds constituted as collateral for derivative operations arranged abroad.
Neither are the balances originating from collections of exports of goods and / or services for which the period of 5 business days has not elapsed since they were received.
In the case of importers of fertilizers and medicinal supplies (finished drugs and supplies for their elaboration) they will be able to access the MULC without requiring prior authorization for the payment of obligations corresponding to future imports that they make.
Finally, it was determined that the previous 90 calendar days without making sales of securities with settlement in foreign currency or transfers thereof to foreign depository entities will be considered as of May 1, 2020.