ANNOUNCEMENT 02 Nov 2017

The Argentine Government eliminated the obligation to settle foreign exchange transactions applied to exporters.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

InfoLeg. Poder Ejecutivo Nacional. Decreto 893/2017. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/285000-289999/285798/norma.htm

Inception date: 02 Nov 2017 | Removal date: open ended
Still in force

Trade balancing measure

On November 2, 2017, the Argentine Executive issued Decree 893/2017 eliminating the obligation imposed on exporters to negotiate their currencies in the official exchange market. The main consequences of the new legislation are the following:

  • allowance to sell and invoice in Argentine Pesos which was  previously forbidden;
  • freedom to set the payment period imposed on the transaction;
  • collect the sales in cash (banknotes in local or foreign currency) and both in the country or abroad; and
  • if the exporter sells in foreign currency, it can freely dispose of these currencies or bills as it wishes.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A