Argentina—cross border banking and finance guide
Produced in partnership with Canosa Abogado
Argentina—cross border banking and finance guide

The following Banking & Finance practice note produced in partnership with Canosa Abogado provides comprehensive and up to date legal information covering:

  • Argentina—cross border banking and finance guide
  • Loan and market development
  • Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments.
  • Lending
  • Is it necessary to obtain any consents or licenses in order to lend in your jurisdiction or enforce rights under a loan agreement and if so what is the process for obtaining the consent or license? Are there any other restrictions on lending that foreign lenders should be aware of?
  • Are there any taxes, duties or other charges associated with making loans to entities that are incorporated in your jurisdiction?
  • Are there any restrictions, controls, fees, taxes or charges on foreign exchange in your jurisdiction?
  • How is debt normally transferred in your jurisdiction?
  • Security and guarantees
  • Is it possible to take security over each of the following types of assets in your jurisdiction (including future assets) and what form does that security usually take?
  • More...

Loan and market development

Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments.

Back to the past! In 2017, we commenced this guide with the following paragraph: ‘there is never a dull moment in Argentina. After seven years of a stagnant market for cross border loan transactions there seems to be life after the Kirchner administration. Five issues were affecting the cross border loan market in Argentina: (i) inflation, (ii) exchange controls, (iii) the rate of the US dollar, (iv) the default on the public debt and (v) certain case law affecting the activities of foreign entities not registered before the Public Registry of Commerce in Argentina (‘PRC’). Slowly, these five issues are being tackled by the current administration’. Today, in 2020, the Kirchners are back in power and those five issues affecting the cross border loan market are alive and kicking. The economy of Argentina has not grown since 2011. Welcome to the past!

Introduction

2019 was a hectic year in Argentina, as every election (odd) year is. The change from a populist inflationed economy to a more market friendly and normal economy could not be accomplished by the Macri administration.

In fact, exchange controls have been back since August 2019, and the public debt once again defaulted shortly thereafter in September 2019.

In 2019, as

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