The Central has stopped all operations to pay for imports with dollars

Parallel to the announcement of the new import restrictions, the Central Bank has stopped all operations related to the demand for dollars to pay for purchases of goods abroad. From the body led by Miguel Angel Pesce they explained to this newspaper that it is a transitory measure, of “a few hours or at most a day” the adaptation of IT systems.

In reality, the adaptation provides for the adaptation of the software to the framework of the new stocks that the BCRA has ordered today (Communication A7532) of all the actors involved in foreign trade: banks, foreign exchange operators and customs brokers, among others. Many of them have warned the inability to initiate or continue the procedures.

The circular note on Monday morning contains 19 pages and aims to limit the bleeding of foreign exchange reserves. From the Government argue that the strengthening of stocks it is a consequence of the imbalance caused by the increase in energy imports (mainly oil and gas).

This was stated directly by Pesce last Friday, in a lunch he shared with companies in the mass consumption sector. Specifically, she asked “Patience until September”date on which he estimated that the situation “would begin to relax”.

With the 19 pages of circular A7532 which it governs from today, the Central Bank modifies the conditions under which companies can access the official dollar to carry out foreign trade operations.

“The board of directors of the Central Bank has today adapted the foreign trade payment system to meet the extraordinary needs of foreign currency to cope with energy imports, with the aim of supporting economic growth and development of SMEs, avoiding speculative maneuvers on imports, “the entity explained in a statement.

These new restrictions go in two directions: on the one hand, they deepen the limitations on the entry of goods from abroad – especially “luxury goods” – authorized by the Ministry of Productive Development, which today belongs to Daniel Scioli.

And on the other hand, it tightens the conditions for accessing the MULC (Single Free Exchange Market), as the dollars held by the Central Bank are called, which exchange at almost $ 125. Almost 83% less than the financial dollars and the Azzurri.