Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 030/2015

SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs10 BANKNOTES AND Bs0.50 COINS

VIEWED:

Law No. 901 of November 28, 1986, 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 SANO Contract No. 095/2014 of April 28, 2014, and the modifying contracts SANO No. 344/2014 of November 17, 2014, and SANO No. 031/2015 of January 12, 2015, for the printing of "J" Series Banknotes with the company Oberthur Fiduciaire SAS; and the SANO Contract No. 185/2011 of May 20, 2011, with the company State Mints Of Baden Wuerttemberg.

The Report from the Monetary Operations Management BCB-GOM-STES-INF-2015-26 of February 25, 2015.

The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2015-85 of March 2, 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 attribution 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.

---

//2. B.R. No. 030/2015

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 reports from the Monetary Operations Management and the Legal Affairs Management, in accordance with the issuance or storage requirements determined by the GOM.

That in accordance with the Banknote Printing Contract of the "J" Series SANO No. 95/2014 of April 28, 2014, and its respective Modifying Contracts signed with the company Oberthur Technologies, the manufacturer delivered the first batch of banknotes of the Bs10 denomination consisting of 48 million pieces equivalent to Bs480 million.

That the Issuing Entity signed contract SANO No. 185/2011 with the company State Mints of Baden Wuerttemberg for the minting of 464 million pieces of Bs0.50 coins, of which 105 million pieces remain to be monetized, equivalent to Bs52.5 million.

That Report BCB-GOM-STES-INF-2015-26 establishes the need to monetize the entirety of the first batch received of Bs10 banknotes and the entirety of Bs0.50 coins.

That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2015-85, 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 Bs10 banknotes and Bs0.50 coins.

THEREFORE

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Authorize the monetization of Bs10 banknotes according to the following detail:

DENOMINATION	NO. OF PIECES	VALUE IN Bs.
10	48 million	480,000,000
Total	48 million	480,000,000

Article 2.- Authorize the monetization of Bs0.50 coins according to the following detail:

DENOMINATION	NO. OF PIECES	VALUE IN Bs.
0.50	105 million	52,500,000
Total	105 million	52,500,000

---

//3. B.R. No. 030/2015

Article 3.- Designate Director Sergio Velarde to participate on behalf of the Board of Directors in the monetization act of the cited material.

Article 4.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, March 3, 2015

Marcelo Zabalaga Estrada

Reynaldo Yujra Segales

Álvaro Rodríguez Rojas

Abraham Pérez Alandia

Ronald Polo Rivero

Sergio Velarde Vera