The Central Bank of the Argentine Republic (BCRA) today extended the import restrictions established in communication A 7532, sanctioned on June 26. This measure had established restrictions on accessing the foreign exchange market to pay for imports, reducing monthly quotas and putting the focus on purchases by companies.” The Board of Directors of the Central Bank decided to extend until December 31 the distribution of the current monthly quota to import and the obligation to finance 180 days the imports that are made through the SIMI B, “details the official statement of the monetary entity. The “SIMI B” referred to in the BCRA communiqué refer to import authorizations for goods that are subject to non-automatic licenses (LNA), measures to regulate foreign trade. These are the most difficult purchases abroad to authorize when processing them before the Government; but that until June they did not have any type of restriction But, paradoxically, until June having a SIMI B was synonymous with free passage through the exchange market since the BCRA understood that they were already reviewed and authorized by what was the Ministry of Productive Development.This measure had been sanctioned only for a quarter and was going to govern until September 30. However, the Central Bank ordered the extension – according to the statement – until December 31 on the grounds that those months would be the most complex in exchange terms since the BCRA had to face heavy payments for the import of energy. “The decision of the Central Bank is to avoid attacking this problem from the reduction of demand or a devaluation jump. That is why import financing was increased. This can help us overcome this difficulty that brings us, especially in the winter months, the import of energy. We expect to reduce the impact of imports in the coming months and build up reserves. When the consumption of energy imports falls, we will go back with this measure,” said the president of the Central Bank, Miguel Pesce, when sanctioning the measure. The communication forced large companies to obtain financing from banks, foreign entities, parent companies or their own suppliers when it comes to making part of their payments. In turn, it established mandatory financing terms of between 180 and 360 days for a large part of imports, depending on the type of import. Meanwhile, SMEs have a more beneficial treatment, as do purchases of capital goods, such as machinery and other equipment intended for production.