Challenges in Argentina Imports Due to Sira Authorization, Payment Delays, and Global Repercussions

Argentinian imports encountered substantial challenges on Dec-23, leading to a global negative reputation. Importers were required to obtain an import authorization, known as the Argentine System of Imports (SIRA), and faced significant issues during the process. Despite the government's assurance that funds for foreign payments will be available 90 to 120 days after goods arrive, the money is not accessible as promised. According to experts, this situation has resulted in a substantial estimated debt of USD 20 to 40 thousand creating disruptions in the domestic market with a high percentage of supply chain breaks across various industries and product shortages.