------------------ ESP

The BCRA Renews Incentive for Settlement of Proceeds from Harvest

The Board of the BCRA has improved the conditions applicable to farmers’ time deposits by removing limits for renewal.

Farmers’ time deposits may be made by individuals and companies with agricultural activity, and their yield is tied to the value of grains or oilseeds and the US dollar.

Such time deposits may be made for an amount not to exceed two times the total value of the sales recorded this year.

The BCRA has decided that term investments existing to date may be renewed for up to the amount to be collected at maturity without taking into account the abovementioned limit, in order to maintain the incentive to sell the harvest.

In addition, the Board of the BCRA has decided to increase the amount that agricultural export companies may borrow in pesos for purchases for export to ARS15,000 million where the parent companies are residents in Argentina.

June 23, 2022

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