Regulations Are Laxed For Exchanging Or Refinancing Argentine Private Sector Liabilities Abroad

Through Communique "A" 7196 dated January 6, 2021, the Argentine Central Bank (the "BCRA," after its acronym in Spanish):

• Extended from 30 to 45 calendar days the term prior to the payment date in which Argentine residents are allowed to access the market to pay principal and interest on financial indebtedness with foreign counterparties or foreign-currency-denominated debt securities.

• Allowed collections in foreign currency from the export of goods and services to be applied to the payment of principal and interest of issuances of publicly registered debt securities in the country or abroad made as of January 7, 2021. This is subject to their being made in the framework of the exchange of debt securities or the refinancing of interest service payment and/or principal of foreign financial debt  with maturity until December 31, 2022. And it applies to transactions with final maturity after March 31, 2021, provided that the average life of the new debt