The Government prohibited the quotas for the purchase of trips abroad

The Central Bank of the Argentine Republic (BCRA) prohibited financial and non-financial entities finance in installments purchases made through Credit cards from passages abroad and else travel services abroad.

The entity reported the measure through Communication 7407. The prohibition reaches the passages abroad and also to services such as accommodation, car rental and excursions.

According to the communication, the prohibition is for purchases made directly with the service provider or indirectly, through travel and / or tourism agencies, web platforms or other intermediaries.

The BCRA statement.

The controversial measure aims to protect the reserves of the BCRA, which have been falling considerably in recent months, which is of particular concern to the Government.

Sources of BCRA They indicated that people will be able to continue buying financed tickets abroad, but the credit card must inform the interest rate that will apply for the sale in installments. Banks or cards must set an interest rate or in exchange offer a personal loan for the purchase of the ticket or the tourist package.

From the BCRA They explained that today the interest rate for these operations is around 43% per year on average.

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