On July 20, 2020, the Central Bank of the Republic of Argentina (the “Central Bank” or the “BCRA” by its Spanish acronym), through Communication “A” 7079 (the “Communication“), extended the effect of the additional requirements to make outflows through the FX market set forth by Communication “A” 7030, as amended, related to (i) make payments for imports of goods; (ii) cancellation of principal of debts arising from the importation of goods; and (iii) cancellation of principal with counterparty related to the debtor.
In addition, the Communication exempted from the BCRA’s prior approval the access to the FX market to cancel commercial debts for imports of goods guaranteed by an export credit agency or a foreign financial institution.
Access to the complete text of the Communication here.
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