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28 August 2020

Legal News Alert - Special Edition: Foreign Exchange Regulations

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28/08/2020

ALERTA DE NOVEDADES LEGALES

LEGAL NEWS ALERT

Control de Cambios

Foreign Exchange Regulations

Comunicación “A” 7094. Extensión de medidas y ajustes al régimen de activos líquidos disponibles

A través de la Comunicación “A” 7094 de fecha 27 de agosto de 2020 (la “Comunicación”), el Banco Central de la República Argentina (el “BCRA”) dispuso extender la vigencia de los puntos 2 (pago de importaciones de bienes) y 3 (limitación al repago de capital de deuda financiera con entidades vinculadas) hasta el 31 de octubre de 2020.

Adicionalmente, la Comunicación amplió la excepción establecida en el punto 1(a)(iv) de la Comunicación “A” 7030 – conforme lo dispuesto por la Comunicación “A” 7042-, de forma tal que no se considerará excedido el límite de USD 100.000 de activos externos disponibles cuando el exceso corresponda a fondos depositados en cuentas bancarias del exterior originados en endeudamientos financieros con el exterior y cuyo monto no supere el equivalente a pagar por capital e intereses en los próximos 365 días corridos (hasta el momento, ese plazo era de 120 días).

Communication "A" 7094. Adjustments to the regime for payment of imports


By means of Communication "A" 7094 dated August 27, 2020 (the "Communication"), the Argentine Central Bank (the "BCRA") extends the deadline of Points 2 (special rules for the payment of imports) and 3 (restrictions on repayment of principal under financing owed to related parties) of Communication "A" 7030, as amended and supplemented, until October 31, 2020. 

In addition, the Communication extends the exception set out in Point 1(a)(iv) of Communication 'A' 7030 – as amended by Communication 'A' 7042 – by providing that the USD 100,000 limit on liquid external assets contemplated therein, will not be considered to be exceeded if such excess is caused by the proceeds of financings deposited in offshore bank accounts, up to an amount equivalent to the principal and interest payments due and payable by the local entity during the immediately following 365 days (until now, the term was 120 days). 

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Aviso: esta publicación y la información contenida en la misma no tiene por objeto reemplazar la consulta con un asesor legal.
Notice: this legal news alert is not intended to replace legal advice but to provide information of general interest.

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