Foreign Exchange Market Rules for Exports, Imports, and Public Sector Operations under Communication A 1340

CENTRAL BANK OF THE ARGENTINE REPUBLIC

COMMUNICATION "A" 1340 20/02/89

TO THE ENTITIES AUTHORIZED TO OPERATE IN FOREIGN EXCHANGE AND FOREIGN EXCHANGE BROKERS:

Ref.: Circulars Foreign Exchange Operations and Move- ments of Funds with Abroad: CAMEX - 1 -
183. Active Operations OPRAC - 1 - 216.
External Collections and Payments COPEX - 1 - 151.
External Operations of the Public Sector SE-
PEX - 1 - 21

We address you and through you all interested parties with reference to the provisions made known by Communication "A" 1326 of 6.2.89 and complementary ones, to inform you that, with effect from the opening of the Foreign Exchange Markets corresponding to the upcoming 21 February, this Institution, in accordance with the guidelines established by the economic authorities, has adopted the following provisions:

I. OFFICIAL FOREIGN EXCHANGE MARKET

1. The following items are settled through the Official Foreign Exchange Market at the Commercial Exchange Rate:

1.1. 80% of the FOB value of exports of the products detailed in the list attached as Annex I.

1.2. 70% of the FOB value of exports of the products detailed in the list attached as Annex II.

1.3. 30% of the FOB value of exports of the products not included in Annexes I and II indicated above.

1.4. 100% of the FOB value of imports of the products included in Chapter 27 of the N.A.D.I.

1.5. Foreign currency loans referred to in point 1.5. of Circular COPEX-1 and its complementary ones, received to finance exports and the payment of their interest, up to the percentages indicated in points 1.1., 1.2. and 1.3. above as applicable.

1.6. Advance collections of exports up to the percentages indicated in points 1.1., 1.2. and 1.3, above as applicable.

1.7. The return of advance collections of exports and of foreign currency loans entered through the Official Foreign Exchange Market in accordance with points 1.4. and 1.5. of Circular COPEX-1 and complementary ones, up to the percentages indicated in points 1.1., 1.2. and 1.3. above, as applicable, when the export has not been completed and provided that the charge established by Communication "A" 932 of 14.10.86 has been paid.

1.8. The obligations of the public sector arising from the Guaranteed Refinancing Contract signed with the international banking community.

1.9. The obligations of the public sector arising from the Restructuring Agreements entered into with official external creditors within the framework of the Paris Club.

Points 1.8. 1.9. above do not cover the obligations of the private sector that have the guarantee of the Nation, the provinces or the municipalities, nor mixed-economy companies nor the financial public sector for their own obligations.

1.10. Transfers abroad in respect of retirement and pension benefits to countries with which there is a reciprocity agreement on the matter, in accordance with the legal provisions in force.

2. The following items are settled through the Official Foreign Exchange Market at the Special Exchange Rate:

2.1. 0% of the FOB value of exports of the products detailed in the list attached as Annex I.

2.2. 10% of the FOB value of exports of the products detailed in the list attached as Annex II.

2.3. 50% of the FOB value of exports of the products not included in Annexes I and II indicated above.

2.4. Foreign currency loans to finance exports and their interest, and advance collections of exports points 1.5. and 1.4. of Circular COPEX-1, up to the percentages cited in points 2.1., 2.2. and 2.3. above, as applicable.

2.5. Inflows of complementary funds from relending and capitalization of relending operations (does not include outflows for the same items).

2.6. Payments of the items considered by Communication "A" 1159 of 4.3.88 (medical treatment expenses and purchase of medicines abroad), up to the amount authorized for each application individually considered. This treatment covers submissions with certifications issued by the Ministry of Health and Social Action of the Nation or provincial or similar competent body on the matter.

2.7. The return of advance collections of exports and of foreign currency loans entered according to points 2.1., 2.2. and 2.3. of this section, in accordance with points 1.4. and 1.5. of Circular COPEX-1 and complementary ones, when the exports have not been completed and provided that the charge established by Communication "A" 932 of 14.10.86 has been paid.

B.C.R.A. COMMUNICATION "A" 1340 20.02.89

2.8. Imports of merchandise.

2.8.1. Operations covered by documentary credits transmitted up to 3.2.89.

The FOB value of unpaid imports and their interest, covered by documentary credits in force, transmitted abroad, up to 3.2.89 inclusive, for original maturities not extended, cleared through customs or to be cleared within ninety days of the date of shipment or up to 20.2.89 inclusive for operations in which that period is completed earlier. The obligation may be cancelled with an advance of no more than two business days to its maturity.

2.8.2. Operations not covered by documentary credits as of 3.2.89.

The FOB value of unpaid imports and their interest, for original maturities not extended, cleared through customs up to 31.3.89. They may access this foreign exchange market no earlier than 60 days from the date of customs clearance or at the maturity of the originally agreed period, whichever is greater. The obligation may be cancelled with an advance of no more than two business days to its maturity.

2.8.3. Requirements that the operations of points 2.8.1. and 2.8.2. above must comply with.

• Compliance must have been given to the Permanent External Debt Survey for shipments prior to 3.8.88. For operations not declared in accordance with the rules in force as of 3.8.88, and shipped no earlier than 45 days from said date, with original maturities falling due as of 1.3.89, the pertinent declaration must be made before 28.2.89 on form No. 5005 under the usual practice form, in accordance with the provisions made known by Communication "A" 433 of 12.1.84 and complementary provisions.

• For operations covered in points 2.8.1. and 2.8.2., the intervening entity must have an External Auditor's opinion from the company that the obligation has not been cancelled. This requirement shall be considered fulfilled if the intervening entity has the opinion up to 5 (five) business days after the payment abroad has been made.

• In all cases the respective documentation must remain at the disposal of this Bank..

2.8.4. Penalties

• Verification of non-compliance with the provisions regarding customs clearance for proceeding with payment abroad shall give rise, on the part of this Bank, to automatic debit in the current account that the entities maintain with the Institution, for the exchange difference existing on the payment date between the exchange rate applied and the rate reported with seller's closing for that day by the Banco de la Nación Argentina for the Free Exchange Market, plus the amount of 1.5 times the maximum daily rediscount rate for temporary illiquidity situations for the period between the day of payment and the day prior to the date of deposit.

• If non-compliance with the other requirements is verified, this Bank shall require the intervening entity to deposit in its current account at the Banco de la Nación Argentina, New York Branch, the amount improperly paid plus 2 times the maximum daily rediscount rate for temporary illiquidity situations charged by this Bank, for the period between the date of payment and the day prior to the deposit, considering as principal the amount paid in US dollars or its equivalent in other currencies, at the seller's exchange rate on the day of payment. The final result shall be converted to US dollars considering the seller's exchange rate of that same market on the day prior to the deposit.

2.8.5. New operations that have been arranged through documentary credits transmitted abroad or shipments of merchandise made through any other payment instrument as of 7.2.89 inclusive, which must comply with the provisions made known by Communication "A" 433 of 12.1.84 and complementary provisions. Obligations may be cancelled no more than two business days in advance of their maturity.

The formalization of these operations must adhere to the following minimum terms for payment abroad:

• Merchandise in general, except capital goods; the FOB value may only be paid in installments of no less than 90 days counting from the date of shipment, including, where applicable, the value of the respective financing interest. This term is also applicable to imports of products of chapter 27 of the N.A.D.I. (section I. point 1.4.).

• Capital goods: The list of products covered is detailed in Annex III.

For operations of up to Dls. 500,000 or its equivalent in other currencies, the FOB value may be paid at a minimum of 180 days from the date of shipment.

B.C.R.A. COMMUNICATION "A" 1340 20.02.89

For operations greater than that amount the minimum payment term shall be one year. Financing interest must be paid together with the principal installments.

For acquisitions exceeding Dls. 500,000 or its equivalent in other currencies, advance payments prior to shipment of up to 5% of the FOB value of the purchase shall be allowed, and, in addition, against delivery of the shipping documents, an additional amount may be paid to that transferred for the aforementioned formalization, with which up to 15% may be totaled. In cases where this franchise is used, the import must be instrumented with a documentary credit, for an amount not less than the total paid up to the delivery of the shipping documentation, in which the amortization conditions of the balance being financed shall be recorded.

For the making of advance payments, in the corresponding documentary credits it shall be stated that the exporter must deliver the respective shipping documentation within the validity period of the credit and that, otherwise, it undertakes to reimburse the transferred amount within 10 days following the expiration of said period.

Imports that have financing granted by international or national credit organizations from abroad covering at least 85% of the FOB value are excepted from these minimum conditions, in which case the conditions established by the respective loan contracts shall apply.

2.9. Operations of the public sector not included in the Official Market, section 1, Commercial Exchange Rate, except for purchases and sales of exchange for the following concepts which shall be processed through the Free Exchange Market:

• Export, import and inter-port freight.

• Insurance on merchandise.

• Consular expenses

• Expenses for ships or aircraft

• Passage

• Operating income and expenses of transport companies

• Leasing of spaces or deposits in ports or airports (includes container rentals)

• Leasing of ships and aircraft excluding "leasing" when they have rental contracts with option to purchase and this has been irrevocably exercised prior to the start of the respective payments abroad

• Insurance, reinsurance and claims.

2.10. Leasing of ships, aircraft or other vessels when they have lease contracts with an option to purchase (“leasing”), and this has been irrevocably exercised prior to the start of the respective payments abroad.

2.11. Financial income and expenditures of the public sector including those from Multilateral Credit Organizations.

2.12. Cancellations of principal and interest of loans from International Organizations to the private sector that were applied to the amortization of obligations for imports of merchandise.

3. Operating Regime

3.1. The Central Bank will set daily the Commercial and Special Exchange Rates, buyer and seller of the United States dollar, spot, normal value, at which operations will be conducted in the Official Exchange Market, as well as the swap rates that entities must apply to arbitrate other currencies into United States dollars.

3.2. The Official Exchange Market will operate within the margins established for each exchange rate, with entities authorized to carry out purchase-sale operations and arbitrage among themselves. Additionally, they may arbitrate their balances in other currencies into United States dollars directly against correspondents abroad or against holdings in the Free Exchange Market.

3.3. The net result in United States dollars for each exchange rate quoted daily in the Official Exchange Market, after entities have carried out the necessary arbitrages and possible purchase-sale operations among themselves, must be sold to or bought from this Central Bank at the close of daily operations.

II. FREE EXCHANGE MARKET.

All operations corresponding to concepts not included in section I above must be settled through the Free Exchange Market, as well as remittances for profits and dividends contemplated in Resolution No. 7109 of the Ministry of Economy of the Nation of 29.7.87, and amounts exceeding the percentages that must be negotiated through the Official Exchange Market, as established in section I.

The supply and demand originating from the Public Sector for individual operations exceeding u$s 10,000 or its equivalent in other currencies will be channeled by entities through the Central Bank at the buyer or seller exchange rate as applicable, registered by the Banco de la Nación Argentina at the close of operations of the previous business day. For this purpose, entities will carry out operations with the Central Bank at normal value and pass them on to their clients under the same conditions.

III. OTHER PROVISIONS

1. Operations of Public or Private Sector entities that have guarantees from the National, Provincial or Municipal states, provided for in points 1. and 2. above, will remain subject to the prior approval of this Bank in accordance with the provisions of Circular SEPEX-1-1, Communication “A” 320 of 26.5.83 and complementary ones.

B.C.R.A. COMMUNICATION "A" 1340 20.02.89

2. Foreign currency loans to finance exports (point 1.5. of Circular COPEX-1 and complementary ones) may optionally be negotiated through the Free Exchange Market, with a maximum maturity until 30.11.89. Foreign exchange from the export must be negotiated under the general regime provided, while the settlement of the loan will be made through the Free Exchange Market. In case of non-compliance with the provisions, the charge provided in Communication “A” 932 of 14.10.86 will be paid.

3. Countertrade operations, referred to in Communication “A” 825 of 30.12.85, may be carried out as long as the collections and payments for the products or services in question are channeled through the same exchange market. In the event that transactions are carried out at different exchange rates, the corresponding adjustments will be made through a simultaneous purchase-sale of foreign currency.

4. Communication “A” 1237 of 3.8.88 and complementary ones are rendered ineffective.

5. 100% of the FOB value from exports of products of the following NADE positions: 71.07.02.01.00 and 72.01.02.01.00 will be settled through the Free Exchange Market.

6. The forward rate stated in point 3.3.2. of Communication “A” 229 of 24.9.82 will continue to be determined based on the quotations registered for the United States dollar in the Free Exchange Market.

7. The regime instituted by Communication “A” 1281 of 4.11.88 will apply to operations included in the temporary admission regime of Decree 1554/86 when such imports have been paid through the Free Exchange Market until 3.2.89 or that pending payment are channeled through the Official Exchange Market, Special Exchange Rate, in which case the portion of the FOB value of exports consisting of merchandise of foreign origin must be settled through the latter market.

8. Points 3. and 6. of Chapter III of Communication “A” 1326 of 6.2.89 are rendered ineffective.

9. Foreign currency loans to finance exports (point 1.5. of Circular CO-PEX-1 and complementary ones) received until 3.2.89 inclusive.

The amount of foreign currency loans not applied to exports or not returned in accordance with the rules, as of 3.2.89, that each exporting company or society has in the set of entities, will have the following treatment:

9.1. The balances registered in the Official Exchange Market will be canceled through the Official Exchange Market at the Commercial Exchange Rate, up to the maximum at the time of negotiation of the foreign exchange from the export is settled through that market at that exchange rate. The balance, if any, will be settled at the Special Exchange Rate.

9.2. The balance of what is negotiated through the Free Exchange Market shall be adjusted considering the percentages legally permitted for the settlement of the FOB value of the products to be exported, at the time of the loan's receipt, and shall be canceled as follows:

• The amount admitted according to the indicated procedure shall be canceled through the Free Exchange Market up to the amount that, at the time of the negotiation of the foreign currency proceeds from the export, is settled through that market; the balance, if any, shall be canceled through the Official Exchange Market at the Special Exchange Rate.

• The surplus resulting from said adjustment, if any, through the Free Exchange Market.

9.3. In all cases, strict compliance must be given to the general provisions governing these financings.

9.4. An indispensable prerequisite prior to the cancellation of foreign currency loans, under the terms set forth above, shall be the presentation to the intervening entity by the exporting company or society of a sworn statement, containing at a minimum the data from the form attached in Annex IV, which must be certified by a National Public Accountant. With the first intervention of an entity, it is obligated to send an authenticated copy to this Bank, Exchange Management, Department of Exchange Regulations and Statistics.

The sworn statement shall be intervened by the entities, at the time of each loan cancellation, which shall record this circumstance on the original under the signature of responsible parties who bind them. Once the balances existing as of 3.2.89 are fully canceled, the original of the sworn statement must be sent to this Bank, to the aforementioned department.

9.5. The Central Bank of the Argentine Republic reserves the right to carry out the accounting verifications it deems appropriate at the premises of the exporting companies or societies, as an indispensable requirement to access the aforementioned loan cancellation regime. In the event of violations of the established regulations, in addition to the applicable penalties, the cost of said verification shall be borne by the infringing company.

B.C.R.A. COMMUNICATION "A" 1340 20.02.89

10. Operations that comply with the provisions of points 2.8.2. and 9. above, canceled between the 7th of the current month and the date of this communication, shall have 5 business days for their re-settlement under the conditions provided in the cited points. The deadlines set by Telephone Communications Nos. 5604 and 5605 of 7.2.89 are also extended by an equal period.

11. The schedule for the settlement of foreign currency proceeds from the FOB value of merchandise exports, starting from next March, shall be as follows:

Month/1989 Exchange Rate	Commercial %	Special Exchange Rate %	Free Exchange Market %
Official Exchange Market
- Products listed in the list attached as Annex I -
March	80	0	20
April	70	10	20
May	60	20	20
June	50	20	30
- Products listed in the list attached as Annex II -
March	70	10	20
April	60	20	20
May	50	30	20
June	40	30	30
- Products not included in Annexes I and II indicated above -
March	30	50	20
April	20	60	20
May	10	70	20
June	0	70	30

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Abelardo J. Tejada
Manager of
Foreign Trade

Elías Salama
General Manager

ANNEXES

B.C.R.A. LIST OF EXPORT PRODUCTS
TO WHICH POINTS 1.1. and 2.1. REFER
Annex I to
Com. “A” 1340

	02.01.01.01.01		15.07.01.01.01
to	02.01.01.99.99	to	15.07.01.02.99
	31.02.08.00.00		15.07.05.01.01
		to	15.07.05.02.99
	10.01.01.01.01		15.07.13.04.01
to	10.01.02.03.00	to	15.07.13.04.90
	10.05.00.01.00		56.03.02.00.00
	33.01.00.02.00
to	10.05.00.02.00		23.02.02.01.01
		to	23.02.02.01.99
			23.04.01.01.00
	12.01.04.01.00	to	23.04.01.99.00
to	12.01.04.02.00		23.04.05.01.00
	12.01.08.01.00	to	23.04.05.99.00
to	12.01.08.02.00
	12.02.00.04.00		27.01.01.00.00
	12.02.00.08.00	a	27.17.00.00.00

B.C.R.A. COMMUNICATION LIST OF EXPORT PRODUCTS TO WHICH POINTS 1.2. and 2.2. REFER
Annex II to
Com. “A” 1340

01.01.00.01.00 08.01.01.00.00
a 01.06.02.99.00 a 08.03.00.01.00
08.04.01.01.00
02.01.02.01.01 a 08.04.01.99.00
a 02.01.03.90.00 08.05.01.01.00
02.01.05.01.00 a 08.02.03.01.99
a 02.01.06.99.00 08.05.03.02.04
02.03.00.00.00 to 08.09.00.99.00
02.04.00.00.00 08.13.00.01.01
to 02.05.00.00.00 to 08.13.00.04.99
02.06.02.01.00 to 02.06.02.99.00 09.01.01.00.00
a 09.02.00.01.00
09.02.00.99.00
09.03.00.01.03
03.01.01.01.01 to 09.04.00.02.02
to 03.03.00.99.00 09.04.00.02.99 a a a a a
03.01.02.01.02
03.01.02.01.09
03.01.02.02.02
03.01.02.02.09
03.01.04.01.05
03.01.04.01.08
03.01.04.02.07
03.01.04.02.14
03.02.03.04.01
03.03.00.02.22
03.05.00.02.50
Excluded:
For ship- ments that are dis- patched through ports and customs lo- cated to the North of the Colorado Ri- ver a a
09.08.00.00.00
09.09.00.01.99
09.09.00.02.00
09.09.00.03.00
09.09.00.01.99
09.10.02.99.00
10.02.00.01.00
10.04.00.02.00
10.06.01.01.00
10.06.01.02.99
10.06.02.01.99
04.01.00.01.90 10.06.02.99.99
a 04.02.01.90.00 10.06.03.99.08
04.02.03.01.00 10.06.04.01.00
04.02.04.04.01 a 04.02.04.99.00
04.06.00.99.00 11.01.01.01.01
04.07.00.00.00 a 11.02.02.03.00
05.01.00.00.00 11.02.03.01.99
a 05.15.00.99.00 a 11.02.03.03.01
11.02.03.03.03
06.01.00.01.01 a 11.09.00.00.00
a 06.04.00.99.00
12.01.01.01.00
07.01.01.01.01 a 12.01.03.02.00
a 07.01.04.99.00 12.01.05.01.00
07.03.00.01.01 a 12.01.07.02.00
a 07.03.00.99.99 12.01.09.01.00
07.05.00.01.01 a 12.02.00.03.00
a 07.06.00.00.00 12.02.00.05.00

a	12.02.00.07.00	20.06.02.99.99
	12.02.00.09.00	20.07.04.01.00
a	12.10.00.99.00	a	20.07.06.01.00
		20.07.06.03.01
	13.02.00.01.00
a	13.03.00.99.00	a	20.07.06.99.00
		21.02.01.99.00
	14.01.00.01.01	21.05.01.01.03
a	14.05.00.99.00	21.06.00.01.01
		a	21.06.00.03.99
	15.01.00.01.02	21.07.00.01.02
	15.01.00.10.00	21.07.00.02.99
a	15.06.00.99.00	21.07.00.03.99
	15.07.02.01.01	21.07.00.05.00
a	15.07.04.01.99	21.07.00.06.99
	15.07.04.02.99
		a	21.07.00.09.00
	15.07.06.01.01	21.07.00.99.99
a	15.07.13.03.99
	15.07.13.05.00	22.01.00.01.90
a	15.17.00.99.00	22.01.00.99.00
		22.03.00.99.00
	16.02.00.01.01	22.08.00.02.00
a	16.02.00.01.03	22.09.03.07.00
	16.02.00.01.99
		a	22.09.03.99.00
	17.01.01.01.00	23.01.01.01.01
a	17.03.00.02.00	a	23.02.01.02.99
		23.02.02.02.01
	18.01.00.01.00
		a	23.03.00.05.99
a	18.06.00.01.00	23.04.02.01.00
	18.06.00.06.99
		a	23.04.04.99.00
a	18.06.00.08.00	23.04.06.00.00
	18.06.00.09.99
		a	23.07.00.06.90
	18.06.00.98.00
	18.06.00.99.99	24.01.01.00.00 a
		24.02.01.00.00
	19.02.00.01.00	24.02.03.01.99
a	19.02.00.02.03	24.02.03.99.00
	19.02.00.02.05
a	19.02.00.02.98	25.01.00.01.00
	19.03.00.01.00
		a	25.20.01.02.00
	19.03.00.99.99	25.21.00.00.00
	19.04.00.00.00	25.24.00.00.00
	19.05.00.01.99
		a	25.32.00.99.00
	19.05.00.99.99
a	19.07.00.99.00	26.01.01.00.00
	19.08.00.02.90
		a	26.01.06.00.00
	19.08.00.03.99	26.01.09.00.00
	19.08.00.99.99
		a	26.04.00.99.00
	20.01.00.99.99	30.01.00.01.01
	20.02.00.99.99
		a	30.01.00.01.99
	20.04.00.03.99	30.01.00.03.01
	20.06.01.90.00
		a	30.01.00.03.99

B.C.R.A. COMMUNICATION LIST OF EXPORT PRODUCTS REFERRED TO IN POINTS 1.2. and 2.2.
Annex II to
Com. “A” 1340

	31.01.00.01.00		54.01.01.00.00
a	31.02.06.00.00	a	54.02.00.00.00
	31.02.08.00.00
a	31.04.01.00.00		55.01.00.01.00
		a	55.04.00.00.00
	32.01.00.01.01
a	32.04.00.02.99		56.03.01.00.00
			56.03.02.00.00
	33.01.00.02.00
a	33.04.00.99.00		57.01.00.01.00
		a	57.07.00.00.00
	34.03.00.00.00
a	34.07.00.02.00		63.01.00.00.00
			63.02.00.00.00
	38.18.00.01.00
			64.05.00.99.00
	40.01.01.00.00
a	40.01.03.00.00		67.01.00.01.00
	40.04.00.00.00	a	67.04.00.99.00
	41.01.01.01.01		68.01.00.00.00
a	41.10.00.00.00
			70.01.00.01.00
	43.01.01.01.00	a	70.01.00.02.99
a	43.02.00.01.99
			71.01.00.00.00
	44.01.01.00.00	a	71.07.01.02.99
a	44.01.02.00.00		71.07.02.99.00
	44.03.01.00.01	a	71.11.02.00.00
	44.03.04.99.00
			72.01.01.00.00
	44.12.00.00.00	a	72.01.01.99.00
			72.01.02.99.00
	45.01.00.00.00	a	72.01.02.99.99
	45.02.00.00.00
			73.03.01.00.00
	47.02.00.00.00	a	73.03.03.00.00
			73.05.01.00.00
	49.02.00.01.00
	49.02.00.99.00		74.01.01.00.00
	49.05.00.00.00	a	74.02.00.00.00
			74.06.00.01.00
	52.01.00.00.00	a	74.06.00.99.00
	53.01.01.01.01		75.01.01.00.00
a	53.05.02.02.99	a	75.01.03.00.00
			75.03.00.02.00

a

76.01.01.00.00	a	80.01.02.99.00
76.05.00.00.00		80.04.00.03.00
77.01.01.00.00		81.01.01.01.00
77.01.02.00.00	a	81.04.03.99.00
77.04.01.00.00		89.04.00.00.00
78.01.01.00.00		95.05.00.01.01
78.01.02.00.00	a	95.08.00.99.00
78.01.03.99.00		96.01.00.01.00
78.04.00.03.00		96.01.00.02.02
79.01.01.00.00	a	96.05.00.00.00
79.01.02.99.00		99.01.00.01.01
79.03.02.01.01	a	99.06.00.00.00
79.03.02.02.00
80.01.01.00.00

	NADI Position				Exclusions (1)
(2) 44	23	00	99	00
(2) 68	11	00	00	00
73	16	00	00	00
73	22	00	00	00
73	37	00	00	00
74	0+	00	00	00
76	08	00	00	00
76	09	00	00	00
84	01	00	00	00	02	98/99	00
84	02	00	00	00	02	00	00
84	03	00	00	00	02	99	00
84	04	00	00	00
84	05	00	00	00	02	00	00
84	06	00	00	00	02	00	00
					07	00	00
84	07	00	00	00	03	00	00
84	08	00	00	00	05	00	00
					06	00	00
84	09	00	00	00	00	02	00
84	10	00	00	00	02	01	06
					(3) 02	01	04
					(4) 02	01	07
					03	01	¾
					(3) 04	01	00
					(5) 04	02	00
					05	01	06
					(6) 05	01	99
					06	00	00
84	11	00	00	00	(3) 01	01	01
					(3) 01	01	02
					(3) 01	02	03
					01	02	11
					(7) 01	02	23
					(8) 01	02	99
					02	00	00
					03	02	00
					(3) 04	01	99
					04	02	00
84	12	00	00	00	00	01	01
					00	02	00
84	13	00	00	00	00	02	00
84	14	00	00	00	00	91	00
84	15	00	00	00	01	00	00
					02	00	00
					04	00	00
NADI position					Exclusions (1)
84	16	00	00	00	00	02	00
					01	00	00
					02	01	02 and 04
					(3) 02	01	12
					(9) 02	03	21
					02	08	00
84	18	00	00	00	01	02	71
					02	01 and 04	00
					02	06 and 204	00
					03	00	00
84	19	00	00	00	01	00	00
					03	00	00
84	20	00	00	00	02	00	00
84	21	00	00	00	00	04	03 and 10
					00	05	00
84	22	00	00	00	01	02	01
					07	98/99	00
84	23	00	00	00	07	01-04/07	00
					07 10 and 98/99		0084
84	24	00	00	00	05	00	00
84	25	00	00	00	05	00	00
84	26	00	00	00	03	00	00
84	27	00	00	00	02	00	00
84	28	00	00	00	02	00	00
84	29	00	00	00	02	00	00
84	30	00	00	00	02	00	00
84	31	00	00	00	03	04/11	00
					03	98/99	00
84	32	00	00	00	02	00	00
84	33	00	00	00	02	00	00
84	34	00	00	00	01	02	07/09
					02	01/06	00
					03	00	00
84	35	00	00	00	05	00	00
84	36	00	00	00
84	37	00	00	00	02	01	01
84	39	00	00	00	00	03/04	00

B.C.R.A.
LIST OF CAPITAL GOODS Annex III to
Com. “A” 1340

NADI Position					Exclusions (1)
84	40	00	00	00	01	00	00
					05	00	00
					07	00	00
84	41	00	00	00	01	01	00
					02	00	00
84	42	00	00	00	00	04	00
					01	02	00
					02	00	00
84	44	00	00	00	02	01	99
84	45	00	00	00
84	46	00	00	00
84	47	00	00	00
84	48	02	00	14
84	49	00	00	00	02	00	00
84	50	00	00	00	00	02	00
84	51	00	00	00
84	52	00	00	00	01	04	00
84	53	00	00	00
84	54	00	00	00
84	56	00	00	00	05	99	00
84	57	00	00	00	00	02	00
84	58	00	00	00	00	02	00
84	59	00	00	00	08	00	00
85	01	00	00	00	01	01	02
					06	00	00
					08	04/05	00
					10	01-03 and 99	00
					11	00	00
85	04	01	01	00
85	04	01	99	00
85	05	00	00	00	00	90	05 and 07
					00	99	00
85	07	00	02	00
85	11	00	00	00	01	03	00
					02	02	00
85	13	00	00	00	02	00	00
85	14	01	03	02
85	14	01	0	99
85	15	00	00	00	02	99	00
					03	99	00
					04	00	00
					05	00	00
	NADI Position				Exclusions (1)
85	15	00	00	00	06	00	00
					10	01	03 and 98/99
					10	02/04	00
					10	05	01 and 05
					10	05	98/99
					10	06/07	00
85	16	00	00	00	00	02	00
85	10) 18	00	00	00
85	22	00	00	00	01	02	00
					02	99	00
86	01	00	00	00
86	02	00	00	00
86	03	00	00	00
86	04	00	00	00
86	05	00	00	00
86	06	00	00	00
86	07	00	00	00
86	08	00	00	00
86	10	00	00	00	00	03	00
87	01	00	00	00
87	02	01	03	00
87	02	02	00	00
87	02	03	00	00
87	03	00	00	00
87	04	00	00	00
87	07	01	00	00
87	14	02	01	01
88	01	00	00	00
88	02	00	00	00
88	05	00	00	00	00	03	00
89	01	00	00	00	02	01/02	00
89	02	00	00	00
89	03	00	00	00
89	05	00	00	00
90	09	00	00	00	00	01	99
					00	03	00
90	10	00	00	00	02	00	00
					03	01	05
					03	01	08 and 16
					03	02	00
					03	03	00
90	12	00	01	01
90	11) 16	01	02	99
92	11	04	01	01
92	11	04	01	02

B.C.R.A.
LIST OF CAPITAL GOODS Annex III to
Com. “A” 1340

(1) - Comprises the last three pairs of digits of the corresponding NADI position.

(2)- Exclusively complete prefabricated constructions.

(3) - Only those intended for use in motor vehicles, self-propelled machinery and internal combustion engines.

(4) - Fuel feed pumps for internal combustion engines.

(5) - Only those intended for use in internal combustion motor vehicles.

(6) - Only rotary fuel injection pumps for diesel engines.

(7) - Only those intended for use in motor vehicles and/or self-propelled machinery.

(8) - Only turbo compressors intended for internal combustion engines.

(9) - Only those intended for use in motor vehicles and/or self-propelled machinery.

(10) - Only condensers or capacitors for medium and low voltage networks of more than 25 KBAR and 1 KVAR, respectively, and voltages above 600 Vac.

(11) - Ampoule inspecting machines only.

B.C.R.A.
MODEL Annex IV to
Com. “A” 1340

EXPORT FINANCING

SWORN STATEMENT

NAME OR CORPORATE NAME OF THE EXPORTING FIRM:
EXPORTER'S ADDRESS No.: FOREIGN SECTOR REGISTRY No.: TELEPHONE:

	Exchange Market
I. Balance as of 3.2.89 of loans for export financing (point 1.5. Communication "A" 12 COPEX - 1)	Official (1)	Free (2)	Total (1 - 2)
	- in US$ without cents -

• Detail of its composition:

Exporting Entity	Income (4001 A or B - 4031)	Cancellations (4009 A or B - 4032)	Balance
	Exchange Market	Exchange Market	Exchange Market
Code	Name	Number Date	Official	Free	Number Date	Official	Free	Official	Free
			- in US$ without cen-	ts-		- in US$ without cents-	- in US$ without cents-

Exchange Market
Official
Exchange Rate
Commercial (1)	Special (2)	Free (3)	TOTAL (1-2-3)
- in US$ without cents-
II. Adjustment of the balance as of 5.2.89 (preceding section) in accordance with the provisions of point 9. of Communication "A" 1340.

III. Repayment of export financing loans	Exchange Market							Authorized signature of the Intervening Entity
	Exchange Rate
Code	Authorized entity	4002 A or B					free market
	Name	Number	Date	Commercial	Special
				in US$ without cents

SIGNATURE:
CERTIFICATION OF PUBLIC ACCOUNTANT POINTS I and II