The Minister of Economy, Sergio Massa, will announce this Wednesday the new scheme with which it will try to promote the settlement of foreign exchange (“agro dollar”) and stop the outflow of dollars from the reserves of the Central Bank.
The scheme will be called the “Export Increase Program” and will include an agreement with the cereal companies to establish a guaranteed minimum settlement for a period not to exceed 45 days and at a differential exchange rate of around $300. The term of the agreement will be from April 8 to May 24.
In addition, the program will include an agreement with regional economies, whose term will go from April 8 to Friday, July 7. In this case, they must meet the eligibility conditions based on criteria of the Ministry of Economy. The present eligibility criteria will be:
– Participation in Fair Prices. “Guaranteed supply and price. A company that does not enter at fair prices will not enter the export program,” they said from the Ministry of Economy.
– Employability guarantee. “Because they are economies that generate employment. Today there are 380,000 jobs,” they warned.
Besides, Economy will implement “mitigation measures for the drought”, with a “simplification and automation criteria for 69 thousand affected producers”. A sanctions regime will also be applied for the more than 3,000 million non-compliant exports. It is estimated that there are some 100 companies with an expired term to liquidate.
