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On 23 October 2023, the Executive Branch issued Necessity and Urgency Decree No. 549/2023 ("Decree"), which aims to establish until 17 November 2023 an export increase program ("Program") for all goods included in the Mercosur Common Nomenclature (NCM) as well as for services rendered abroad to enable the settlement of a portion of the foreign currency obtained from the export of goods and services through transactions commonly known as "blue chip transactions." The program is also regulated by the Central Bank of the Republic of Argentina (BCRA) through Communication "A" 7867 ("Communication"), also issued on 23 October 2023.
The Decree specifically provides as follows:
On the other hand, the Communication establishes that the obligation to settle through the MLC the counter value of the exported goods and services, as well as the advances, pre-financing and post-financing from abroad, may be considered fully complied with when made within the framework of the Program.
The Decree became effective on 23 October 2023, and the Communication on 24 October 2023.
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