Regulatory Alerts2010-02-09 | Resolución 027/2010Added · Updated
Board Resolution No. 027/2010
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 14,760,000 coins of the Bs1 denomination and 50,000 coins of the Bs5 denomination, resulting in a total face value of Bs15,010,000. Director Rafael Boyán is designated to represent the Board at the monetization ceremony, and the Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 027/2010 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF COINS OF THE Bs1 CUT. Bs5 CUT.
VIEWED: The Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on the Issuance, Exchange and Destruction of Monetary Material, approved by Board Resolution No. 047/2009 of April 14, 2009. The Coin Minting Contract SANO No. 078/2009 of May 19, 2009 and its Modifying Addendum SANO No. 113/2009 of June 15, 2009, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 018/2010 of February 8, 2010. The Report from the Legal Affairs Management SANO No. 037/2010 of February 8, 2010.
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.
//2. B.D. No. 027/2010 That in accordance with the Coin Minting Contract and its Modifying Addendum, the Central Bank of Bolivia has received the eighth receipt of metallic monetary material from the Chilean Mint. That it is the attribution of the Board 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 9 of the Regulation for the Issuance, Exchange and Destruction of Monetary Material, establishes that it is the faculty of the BCB Board to authorize the monetization of banknotes and coins. That the Report STES No. 018/2010 establishes that the monetization of coins of the Bs1.- and Bs5.- cuts is necessary and recommends that the BCB Board consider the monetization of the monetary material delivered in vault by the supplier Chilean Mint. That in the opinion of the Legal Affairs Management according to Report SANO No. 037/2010 there is no legal impediment for the BCB Board, in attention to its faculties and competencies, to approve the monetization of coins of the Bs1.- and Bs5.- cuts.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of coins of the Bs1.- and Bs5.- cuts according to the following detail:
CUT NUMBER OF PIECES VALUE IN Bs. 1.- 14,760,000 14,760,000 5.- 50,000 250,000 TOTAL 14,810,000 15,010,000
Article 2.- Designate Director Rafael Boyán to participate on behalf of the Board in the act of monetization of the cited material.
//3. B.D. No. 027/2010 Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, February 9, 2010
Gabriel Loza Tellería
Hugo Dorado Araníbar Ernesto Yáñez Aguilar
Rafael Boyán Téllez
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