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Argentina Import Payment Timeline Reduced

In another move towards trade normalization, Argentina’s Central Bank (BCRA) announced (through Communication “A” 8074) that as of August 1st, 2024, importers will have more expedited access to the official foreign exchange (FX) market (in Spanish MULC) to pay for most imports.  

The new policy allows importers to pay 50 percent of the total imported value of the product 30 days after the merchandise enters the Argentine market, with the remaining amount due at 60 days. This is a marked improvement from the previous system, which mandated payments in four installments at 30, 60, 90, and 120 days post-nationalization – terms that have stifled trade and resulted in considerable supply chain challenges due to reluctance from suppliers. The BCRA posits that this change will help reactivate the economy and potentially reduce prices by easing the financial burden on importers and minimizing the need for costly legal parallel market transactions.

Exceptions include:

  • Energy-related goods receive immediate payment
  • Pharmaceutical products, other healthcare-related goods, fertilizers, phytosanitary products for local production, basic consumer basket products, and imports made by SMEs have access to the FX market 30 days after customs registration
  • Luxury goods and finished cars, which were previously paid 120 days after customs registration, will now have access to the FX market 90 days after their customs registration, starting August 1st.

The BCRA has also implemented changes targeting Argentine service exporters and individuals seeking access to foreign currency, easing requirements for Argentines to purchase foreign currency in the legal parallel market (CCL or blue-chip swap). The Argentine administration has expressed its intention to eventually eliminate all restrictions on international trade operations, signaling a continued trajectory towards economic liberalization and normalization of Argentina’s complex foreign exchange system. 

For additional information, please contact the U.S. Commercial Service in Argentina at Office.BuenosAires@trade.gov.

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