Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 023/2017

SUBJECT: TREASURY MANAGEMENT – AUTHORIZES MONETIZATION OF Bs20.- BANKNOTES

VISTOS:

• 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.
• The Statute of the Central Bank of Bolivia of October 21, 2005.
• The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 021/2016 of February 2, 2016.
• The Banknote Provision Contract SANO-DLABS No. 182/2016 of June 8, 2016, signed with the company Oberthur Fiduciaire SAS.
• The Report from the Monetary Operations Management BCB-GTES-SAMM-DAMM-INF-2017-13 of February 1, 2017.
• The Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2017-25 of February 3, 2017.

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 non-delegably the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins.
• That it is an attribution of the Board of Directors according to Article 54, subsection m) 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 BCB Board of Directors to authorize the monetization of monetary material based on reports from the Treasury Management (GTES) and the Legal Affairs Management, in accordance with the issuance or storage requirements determined by the GTES.
• That in accordance with the Banknote Provision Contract SANO-DLABS No. 182/2016 signed with the company Oberthur Fiduciaire SAS, the Central Bank of Bolivia received the first batch of banknotes of the Bs20.- denomination.

//2. B.R. No. 023/2017

• That the Report BCB-GTES-SAMM-DAMM-INF-2017-13 establishes the need to introduce banknotes of the Bs20.- denomination.
• That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-DLBCI-INF-2017-25, the request for monetization of banknotes of the Bs20.- denomination made by the GTES is legally appropriate since it does not contravene the current legal framework, being the competence of the Board of Directors of the Issuing Entity to authorize it by simple majority of votes of the members present at the respective meeting, in accordance with what is provided in Article 24 of the BCB Statute and by virtue of the provisions contained in Law No. 1670.

THEREFORE

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

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

DENOMINATION	NO. OF PIECES	VALUE IN Bs.
20	17,000,000	340,000,000
Total	17,000,000	340,000,000

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

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

La Paz, February 7, 2017

Pablo Ramos Sánchez

//4. B.R. No. 023/2017

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