BOPREAL: it orders importers' debt and opens the path to ending the currency controls

The BCRA created the US-dollar Notes with a redemption option for importers with pending payments (BOPREAL): a bond that channels importers' commercial debt outside the MULC, giving them an instrument to regularize payments abroad without pressuring reserves. It is subscribed in pesos at the reference exchange rate Com. "A" 3500 and amortized in dollars; maximum term 10/31/2027, maximum annual rate 5%, CRyL agent (all confirmed in the text of "A" 7918). Regulatory complement: under Decree 72/2023 the series can be used to cancel tax and customs obligations before AFIP. An instrument effectively issued and awarded in successive auctions since Dec-2023 (it was not merely announced). verif · Dec 13, 2023 ↗

12/13/2023 (date of Communication "A" 7918). The first Series 1 auctions started in December 2023; an instrument in force with a maximum amortization term to 10/31/2027. verif · Dec 13, 2023 ↗

Only importers of goods and services (natural and legal persons) up to the amount of the imports they have pending payment abroad. The text of "A" 7918 is explicit: 'only importers of goods and services may participate in the subscriptions of these instruments, up to the imports they have pending payment'. The temporal cutoff of the eligible universe (debt with customs registration/services rendered up to 12/12/2023 inclusive) does NOT come from "A" 7918 but from Decree 72/2023. verif · Dec 13, 2023 ↗