Resolution 080/2002

BOARD RESOLUTION NO. 080/2002
SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES MODIFICATION TO THE REGULATIONS FOR OPERATIONS OF SPECIAL ACCOUNTS AND OTHER ACCOUNTS IN US DOLLARS OF THE PUBLIC SECTOR.

HAVING SEEN:
Law No. 1670 of the Central Bank of Bolivia of October 31, 1995.
Board Resolution No. 060/2001 of June 19, 2001.
The Report from the Monetary Operations Management SOSP No. 008/2002 of June 13, 2002.
The Report from the Legal Affairs Management SANO No. 108/2002 of June 10, 2002.

CONSIDERING:
That Law No. 1670 defines the functions of the Central Bank of Bolivia as the Financial Agent of the Government.
That Article 28 of Law 1670 establishes the relationship with the General Treasury of the Nation (TGN), and Article 29 subsection a) establishes the provision of services related to the contracting of external credits. That Board Resolution No. 060/2001 approves the Regulations for Operations of Special Accounts of the Public Sector. That it is necessary to modify Board Resolution No. 060/2001 of the Central Bank of Bolivia (BCB) which approves the Regulations for Operations of Special Accounts of the Public Sector, in order to relax the request for documents required for the activation of a Special Account and make the procedure required for this type of operation more dynamic.

//2. B.D. No. 080/2002
That the report from the Monetary Operations Management SOSP No. 008/2002, justifies the need to approve the modification of the Regulations for Operations of Special Accounts and Other Accounts in US Dollars of the Public Sector. That the Report from the Legal Affairs Management SANO No. 108/2002, establishes that by virtue of the powers granted by Article 54 subsection o) of Law 1670, the Board of Directors of the BCB is authorized to modify existing regulations without the need for any additional administrative act.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Modify Article 3 of Board Resolution No. 060/2001 in the following terms:

Article 3.- (Required Documents)
SAYS:
For the activation of a special account, the necessary documents are the financing and/or donation agreement signed between the Republic of Bolivia and the lenders, as well as the subsidiary agreement subscribed between the Republic and the beneficiary of the credit.

SHOULD SAY:
“For the activation of a special account, the necessary documents are the financing and/or donation agreement signed between the Republic of Bolivia and the lenders and/or the subsidiary agreement subscribed between the Republic and the beneficiary of the credit.”

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Article 2.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, July 23, 2002

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Juan Antonio Morales A.

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Armando Méndez M. Roberto Camacho S.

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Javier Comboni S. Enrique Ackermann A.