Regulatory Alerts2023-01-04 | RESOLUCIONES DE DIRECTORIO Nº 006/2023Added · Updated
Board Resolution No. 006/2023: Approval of the Regulation on Financial Operations with Foreign Entities for Central Government Public Enterprises and State-Majority Companies
The Central Bank of Bolivia approves a regulation mandating that all foreign exchange transfers and export proceeds from central government public enterprises and state-majority companies must be settled through the Central Bank at the official buying exchange rate. These entities are prohibited from maintaining direct foreign currency investments, with an exception allowing operational capital balances up to USD 1,000,000 in foreign accounts. Compliance requires quarterly sworn declarations of foreign account balances and transfers, with non-compliance triggering currency operation suspensions by financial institutions and administrative sanctions by the Financial System Supervision Authority.
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