In order to induce a greater foreign currency supply in the local exchange market, the Argentine Central Bank issued Communication “A” 6765 establishing as a requirement a previous authorization of such self-governed authority for the granting and disbursement of new financing to Large Exporting Companies in Argentine pesos.

To such end, Large Exporting Companies mean companies of the non-financial private sector whose goods and services exports during the 12 immediately preceding months equal to at least 75% of their whole sales and that keep a total financing amount in the financial system as a whole higher than ARS 1,500 M. For purposes of the preceding calculation, afiliated clients as well as industrial exports included in international complementary agreements to which Argentina is a party shall be excluded.

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