:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/OHAI4VQKL5EMXK6NJTPLHGVWPE.jpg "Imports: the government assures that it authorizes 3 foreign currency requests out of 4 and that it has accelerated the pace of approvals 1")
The Government ensures that out of 4 procedures for import authorization to the official dollar entering the BROKEN system3 end up getting green lightamid complaints from chambers of commerce in recent months about the pace of clearing applications.
According to official data released by the economic team, since the launch of the new import channeling procedure in mid-October, the government has given the green light to 236 million of the 315 million applications that have entered the system, which would imply an increase 2% interannual. Translated into amounts, it represents an increase in the values of 11%con $27,335 million access to Central Bank currencies for importers.
The pace of qualifications accelerated as the functioning of the SIRA was adjusted. In October, when it had just started, the approval rate was 60 percentofficial sources said.
Over the past year, the value of authorized imports has increased by 11%, with $27,335 million in access to Central Bank foreign exchange
Measured in number of companies, in the past four months they requested dollars to import 21,885 companiesof which the 87% have the approval. Among the SMEs, the level of qualification obtained was 87%, but among the large ones, it was higher, almost total, in 98 percent. In any case, of the total universe of companies that were part of the SIRA, a small part is considered important, only the 3 percent.
Some sectors have, as standard, longer terms than others so that after approval, the BCRA actually sends them the foreign currency they requested. Some are immediatedo they provide in the economic team, such as those demanded by sectors such as energy, those that are part of the fair price agreement, alumina, editorial or products related to the treatment and diagnosis of Covid.
Others have deadlines 30 days such as auto parts, fruits and vegetables, additives and lubricants or cyanides. In the 45 days there are terminals for automotive parts, sheets and plates; while the longest, 120 days, is intended for automotive terminals. There expect “general”outside of these sectors, is 90 daysfor the rest of the procedures. There is a smaller part (4% of the total) which enters the SIRA but as he pays for his imports with own dollarsits approval is immediate because it does not require foreign currency from the Central Bank.
The x-ray of SIRA procedures also shows which type of imports are most likely to “get out”. In this sense, almost all (96%) of what is required of fuels and energy purchased overseas is approved. This is a position strongly influenced by the purchases made by the State of Energy during the winter months, those which are the most demanding and which must be supplied with imported LNG.
the article supplies and parts for Capital Goods concluded the first four months of operation of the SIRA with a 81% approved and the consumer goods (including automobiles), with a 70 percent. The worst is taken by the capital goodssince onlyl 55% applications are successful. In the official offices, they defend themselves and assure that this is explained by the fact that the use of installed capacity of the industry is far from its maximum and that the sector has room to use it before strengthening with new capital goods.
There is also a sort of ranking of the types of goods that have higher or lower import approval percentages. At the top are fuels and energy (96%), automotive (87%), base metals and manufacturing (86%) and drugs and medical supplies (84%). At the other extreme are the headings other special purpose machines (45%)general purpose machinery (63%), textiles and clothing (64%).
In this sense, almost all (96%) of what is requested for fuels and energy purchased abroad is approved, but only 55% of capital goods
The discussion with the private sector on the demand for foreign exchange that the industry will have this year has already begun and within the government they assure that in private meetings they have raised that certain productive elements requested, in a projection for l set of 2023, nearly 120% more dollars over the previous year, as in the case of Food and drinks.
The SIRAs which have been returned and which are not current, i.e. a quarter of the total, respond to a risk matrix which indicates to the civil servants, according to a series of criteria (the financial and economic capacity of the company and its history of importation) if the procedure can present any irregularity. In official dispatches, they claim that the diagnosis is systematized and that there is no margin of appreciation to establish the risk profile of companies.
An example: a company that in the last 24 months had registered 22 with import activity -therefore the habit has not configured an obstacle- had gone from requesting, per month, approximately 200 thousand dollars initiate a procedure for $160 million. In such a case, an alarm is triggered in the AFIP for which the company in question must explain why it registers a jump of this nature in its demand for foreign exchange. Any subsequent request you initiate will be locked until you respond to the disputed request.
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