Circular Foreign Exchange Operations and Movement of Funds and Securities with the Abroad - CAMEX 1 - 37

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 205 18/08/82
TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND FOREIGN EXCHANGE BROKERS:
Ref: Circular FOREIGN EXCHANGE OPERATIONS AND MOVEMENTS OF FUNDS AND SECURITIES WITH THE ABROAD - CAMEX - 1 - 37

We address ourselves to you and through you to the interested sectors to inform you that, in relation to the provisions made known by Circular CAMEX - 1 - 28, Communication "A" 162 of 15.7.82, it has been decided to authorize authorized financial entities operating in exchange to process directly and without prior authorization of the Central Bank, the following operations:
a) The execution of swap operations linked to the attention of Argentine import debts, whose requests had been presented and entered into the Central Bank until 2.7.82, with maturities up to that date, inclusive. b) Transfers abroad destined to attend the cancellation of such obligations, provided they are included in the preceding section a) and that the income from the swap operation has been or is effected simultaneously.

The operations may be carried out until 31.8.82 inclusive, whether or not the respective forms 4008 F have been presented, and using for their denunciation to this Bank, as until now, form 4005, to which annex they will send form 3755 with the total detail, by numerical order, of forms 4008 A or D, 3687 or 4008 F, which will be annulled. Form 3755 must be signed indelibly at managerial level.

The amounts of the swap operations carried out under this regime cannot be lower than the amount of the importation obligations being cancelled. The intervening entities will assume responsibility for the accuracy of the data they enter in the denunciation forms, as well as for the existence and exigibility, on 2.7.82, of the obligation being cancelled.

For remittances abroad for the payment of imports, and for the income of swaps, the exchange rates and conditions established in points 1 and 2 of Circular CAMEX - 1 - 28, Communication "A" 162 of 15.7.82, shall apply.

We salute you very attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Jorge E. Magistrelli Evaristo H. Evangelista
Manager of Foreign Exchange and Changes General Submanager