Board Resolution No. 009/2015

BOARD RESOLUTION NO. 009/2015

SUBJECT: MONETARY OPERATIONS MANAGEMENT — AUTHORIZES MONETIZATION OF Bs20 BANKNOTES

HAVING SEEN:

Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency.

Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia.

The Statute of the Central Bank of Bolivia approved by Board Resolution No. 128/2005 of October 21, 2005, and its subsequent modifications.

The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009, and its subsequent modifications.

The Banknote Printing Contract for the "J" Series SANO No. 95/2014 of April 28, 2014, and its respective Addenda signed with the company Oberthur Technologies.

The Report from the Monetary Operations Management BCB-GOM-STES-INF-2015-5 of January 12, 2015.

The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2015-26 of January 13, 2015.

CONSIDERING:

That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987.

That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and inalienably the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins.

That it is an attribute of the Board of Directors according to subsection m) of Article 54 of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins.

That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material establishes that it is the faculty of the Board of Directors of the BCB to authorize the monetization of monetary material based on the reports of the Monetary Operations Management and the Legal Affairs Management in relation to the issuance or storage requirements determined by the GUM.

That in accordance with the Banknote Printing Contract for the "J" Series SANO No. 95/2014 of April 28, 2014, and its respective Addenda signed with the company Oberthur Technologies, for the Printing of Banknotes of the "J" Series, of the cuts of Bs10.-, Bs20.-, Bs50.-, Bs100.- and Bs200.-

That the Report BCB-GOM-STES-INF-2015-5 establishes the need to monetize the first shipment received of the Bs20.- cut of 29.7 million pieces equivalent to Bs594 million.

That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2015-26 there is no legal impediment for the Board of Directors of the BCB, in attention to its faculties and competencies, to approve the monetization of banknotes of the Bs20.- cut.

THEREFORE

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Authorize the monetization of banknotes of the Bs20.- cut according to the following detail:

CUT NO. OF PIECES VALUE IN Bs. 20 29.7 million 594,000,000 Total 29.7 million 594,000,000

Article 2.- Designate Director Ronald Polo to represent the Board of Directors in the act of monetization of the cited material.

Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, January 15, 2015

[Signatures]

Reynaldo Yujra Sergio Velarde Vera Abra Pet Alandia Ronald Polo Rivero