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The Central Bank of Argentina (BCRA) extended paragraph 7 of Communication A 7106 until December 31, 2021, allowing companies to restructure foreign-currency debt. Companies can access the forex market for up to 40-45% of principal, with the remainder refinanced abroad with an average life of two years.
The board also raised monthly rescheduled maturities from USD1 million to USD2 million and exempted certain debts.
Easing forex access for debt restructuring supports Argentina's peso stability and reduces pressure on the currency, which can affect Argentine export competitiveness for soymeal and soyoil. The measure has limited direct effect on grain prices.
bcra.gob.arRodino HernanFeb 25, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
