Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 006/2017

SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – APPROVES PAYMENT OF THE FOURTEENTH QUOTA REVIEW TO THE INTERNATIONAL MONETARY FUND

VISTOS:

• The Political Constitution of the State approved by referendum on January 25, 2009, and published on February 7, 2009.
• Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB).
• The Statute of the BCB approved by Board Resolution No. 128/2005 of October 21, 2005, and its subsequent modifications.
• Resolution 66-2 of the Board of Governors of the International Monetary Fund of December 15, 2010.
• Supreme Decree No. 2476 of August 5, 2015.
• Law No. 840 of September 27, 2016.
• Note MEFP/VTCP/DGCP/UODP-1060/2016 of December 27, 2016 from the Ministry of Economy and Public Finance.
• Report from the International Operations Management BCB-GOI-SOEXT-DDE-INF-2016-126 of December 30, 2016.
• Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2017-3 of January 6, 2017.

CONSIDERING:

• That Article 27 of Law 1670 states that the Central Bank of Bolivia may assume the representation of the State before international and multilateral monetary organizations.
• That according to Article 86 of Law 1670, the BCB can acquire and/or maintain shares in the capital of international financial entities of public law.
• That the International Monetary Fund, through Resolution No. 66-2, approved the Fourteenth General Review of Quotas of that international organization, establishing the increase of

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the quota assigned to Bolivia from Special Drawing Rights - SDR 171,500,000.- to SDR 240,100,000.-.

• That Article 11 of Law No. 840 of September 27, 2016, authorizes the Central Bank of Bolivia to make capital contribution payments to International Monetary Organizations, in accordance with the terms of the Short Treaty signed or acceded to by the Plurinational State of Bolivia.
• That the Ministry of Economy and Public Finance, through note MEFP/VTCP/DGCP/UODP-1060/2016 of December 27, 2016, requests the Central Bank of Bolivia, on behalf of Bolivia, to carry out the corresponding procedures to effectuate the quota increase provided for in the Fourteenth General Review of quotas of the IMF.
• That through the consent note dated December 27, 2016, signed by the Minister of Economy and Public Finance, the Plurinational State of Bolivia gave its consent to the increase of its quota to SDR 240,100,000.-.
• That the Report from the International Operations Management BCB-GOI-SOEXT-DDE-INF-2016-126 recommends making the payment of the quota increase to the IMF.
• That the Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2017-3 concludes that it is within the authority of the Board of Directors of the BCB to authorize the payment of the quota to the IMF.
• That the Board of Directors of the BCB, in its capacity as the highest authority of the Institution, is responsible for defining its policies, specialized regulations of general application, and internal rules, and is empowered to issue norms and adopt general decisions that may be necessary for the fulfillment of the functions, competencies, and powers assigned by Law to the Issuing Entity, as established in Articles 44 and 54 item o) of Law No. 1670 and Articles 9, 11, and 24 of the Statute of the BCB.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Approve the payment of the Fourteenth General Review of Quotas to the International Monetary Fund for SDR 68,600,000.- (Sixty-eight million six hundred thousand Special Drawing Rights) under the following modalities:

• The equivalent in national currency of SDR 51,450,000.-, crediting account No. 1 of the IMF at the Central Bank of Bolivia.
• SDR 17,150,000.-, through the purchase of SDRs with resources from international reserves.

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

La Paz, January 10, 2017

Pablo Ramos Sánchez
Sergio Velarde Vera
Ronald Polo Rivero
Abraham Pérez Alandia
Luis Baudoin Olea