20 Dic 24 The Argentine Central Bank Advances in the Flexibilization of Access to the Foreign Exchange Market

By Agustín L. Cerolini, Martín Chindamo, Valentina Circolone, and Tomás Mingrone

By means of Communications “A” 8160 (hereinafter, the “Communication 8160”) and “A” 8161 (hereinafter, the “Communication 8161”), the Argentine Central Bank (hereinafter, the “BCRA” for its acronyms in Spanish) is advancing in the flexibilization of access to the Foreign Exchange Market (hereinafter, the “FX Market”).

The BCRA, through the issuance of Communication 8160 and in accordance with the regulations of the Argentine Exchange Commission, authorizes access to the FX Market for the repayment of foreign currency debt issued by financial trusts with public offerings, provided that the amount had been converted into pesos through the FX Market at the time of its primary issuance.

Additionally, through Communication 8161, the BCRA authorizes companies to access the FX Market, without prior approval, to repay compensatory interest accrued as of January 1, 2025, on financial debts owed to their parent companies.

However, the BCRA clarifies that interest accrued as of December 31, or penalty interest or other equivalents accrued from January 1 onward, will continue to require prior approval.