Friday
June 26, 2015
June 26, 2015
Thursday, June 25, 2015
Gov't relaxes by 30% currency restrictions for imports
The Government has determined an increase of 30 percent for businesses to spend on import operations, with the new guidelines set to come into force next month.
Official sources told ámbito.com that the relaxation on controls would mean that "the supply of foreign currency will be increased by 30 percent" on the official exchange market (MULC). The amount designated to each sector, the source added, "will be defined by the Economy Ministry".
The move continues with a progressive loosening of the regulations for local enterprises demanding funds for import needs, since the beginning of this year. In April the automotive, electronic, chemical, commercial and other sectors had obtained almost 5 billion dollars in order to fulfil their commitments.
Central Bank president Alejandro Vanoli and Economy minister Kicillof were signalled as the authors of this decision, after the pair considered "the stablity verified in the exchange market and the strengthened level of reserves to resolve the widening of the amounts available for importers."
"The greatest availability of currency for those sectors has been recorded in times of strengthening of reserves as well as financial and exchange stability," the source explained, while adding that the measure will "guarantee the process of investment for those sectors mentioned."
Official sources told ámbito.com that the relaxation on controls would mean that "the supply of foreign currency will be increased by 30 percent" on the official exchange market (MULC). The amount designated to each sector, the source added, "will be defined by the Economy Ministry".
The move continues with a progressive loosening of the regulations for local enterprises demanding funds for import needs, since the beginning of this year. In April the automotive, electronic, chemical, commercial and other sectors had obtained almost 5 billion dollars in order to fulfil their commitments.
Central Bank president Alejandro Vanoli and Economy minister Kicillof were signalled as the authors of this decision, after the pair considered "the stablity verified in the exchange market and the strengthened level of reserves to resolve the widening of the amounts available for importers."
"The greatest availability of currency for those sectors has been recorded in times of strengthening of reserves as well as financial and exchange stability," the source explained, while adding that the measure will "guarantee the process of investment for those sectors mentioned."
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