Argentina Import Regulations and Payments

As part of its ongoing efforts to liberalize trade and facilitate international payments, the Argentine government introduced the Bonds for the Reconstruction of a Free Argentina (BOPREAL) in December 2023. This initiative was designed to address the commercial debt accrued by Argentine importers with U.S. partners, resulting from stringent capital controls imposed due to dwindling dollar reserves.

The primary objectives of the BOPREAL bonds are to absorb excess liquidity in Argentina’s inflationary economy and to support local manufacturing by facilitating imports. The program enables importers to purchase government-issued BOPREAL bonds in pesos, which can then be sold on secondary markets to access foreign currency and settle outstanding import-related debts.  

Most recently, the Argentine government announced the issuance of Series 4, established under Decree 384/2025. Series 4 will involve the issuance of up to $3 billion in government bonds through successive bidding rounds. Of that amount, up to $1 billion may be allocated specifically to settle trade-related obligations that were incurred prior to December 12, 2023. These bonds will be redeemable within a defined window, from April 30 to October 31, 2028.

The first bidding round was scheduled for Wednesday, June 18, 2025. Companies of all sizes and industries may participate to purchase up to the amount of debt owed at the time of subscription. To qualify, documentation must demonstrate the existence and amount of the debt and confirm that the transaction has already been declared.

U.S. exporters with Argentine clients holding legacy debt are encouraged to coordinate with their counterparts to determine next steps. Participation in the Series 4 program is subject to compliance with specific guidelines issued by the Argentine Central Bank under Communication ‘A’ 8233 and Communication ‘A’ 8234.  

For additional information, please contact the U.S. Commercial Service in Argentina at Office.BuenosAires@trade.gov.