Circular CAMEX 1-1038: Foreign Exchange and Changes. Adjustments.

"AÑO DE LA DEFENSA DE LA VIDA, LA LIBERTAD Y LA PROPIEDAD" "AÑO DE LA DEFENSA DE LA VIDA, LA LIBERTAD Y LA PROPIEDAD"

COMUNICACIÓN “A” 8161 19/12/2024

TO FINANCIAL ENTITIES,
TO EXCHANGE HOUSES:
Ref.: Circular
CAMEX 1-1038:
Foreign Exchange and Changes. Adjustments.

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We address you to inform you that this Institution adopted the following resolution:

1. To nullify the requirement of prior approval by the Central Bank of the Republic of Argentina provided for in point 3.5.6. of the consolidated text on Foreign Exchange and Changes for access to the foreign exchange market by clients to pay, upon maturity, compensatory interest accruing from 01/01/25 on the original remaining value of financial debts with related foreign counterparties.

Interest owed as of 31/12/24 or punitive interest or other equivalents accruing from 01/01/25 will continue to be subject to the prior approval requirement under the terms stated in the aforementioned point 3.5.6.

2. To establish that the rest of the provisions provided for in points 3.3.3. and 3.5.6. of the consolidated text on Foreign Exchange and Changes, regarding access to the foreign exchange market for the cancellation of principal and interest on commercial and financial debts with creditors who are related parties to the resident debtor, will remain in force from 01/01/25.

Likewise, we inform you that we will subsequently send you the forms that, in replacement of those previously provided, should be incorporated into the reference regulations.

We salute you attentively.

CENTRAL BANK OF THE REPUBLIC OF ARGENTINA
Romina C. Bianchimano Oscar C. Marchelletta
Deputy Manager of
Foreign Exchange and Changes
Main Manager of Foreign Exchange and Changes