Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 022/2019

SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT - APPROVES CAPITALIZATION OF PROFITS IN THE LATIN AMERICAN RESERVE FUND.

VIEWING:

• Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB).
• Agreement No. 169 of the Board of Directors of the Latin American Reserve Fund (FLAR) of July 5, 2012.
• Board Resolution No. 043/2013 of April 23, 2013.
• Report from the International Operations Management of the BCB-GOI-SOEXT-DDEX-INF-2019-7 of February 21, 2019.
• Report from the Legal Affairs Management of the BCB-GAL-SANO-DLBCI-INF-2019-30 of February 22, 2019.

CONSIDERING:

• That through Agreement No. 169, the FLAR approved a new subscribed capital corresponding to Bolivia of USD 328,125,000.00, with a payable capital of USD 93,750,000.00.
• That in accordance with the provisions of Board Resolution No. 043/2013, capitalizations of profits from the annual exercises of the period 2012-2017 were carried out for a total of USD 14,261,315.92.
• That the International Operations Management, according to Report BCB-GOI-SOEXT-DDEX-INF-2019-7, recommends authorizing the capitalization of profits corresponding to the financial exercises of the period 2018 to 2022, to complete the Payable Capital which amounts to USD 79,488,684.18.
• That as expressed in Report BCB-GAL-SANO-DLBCI-INF-2019-30, the Legal Affairs Management concludes that under articles 44 and 54 of Law No. 1670 and article 11 of the Statute of the Central Bank of Bolivia, the Board of Directors of the BCB is authorized to approve the capitalization of profits in the Latin American Reserve Fund.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES: