Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 034/2017

SUBJECT: TREASURY MANAGEMENT – AUTHORIZES MONETIZATION OF Bs5 COINS

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 Coin Supply Contract SANO-DLABS No. 301/2016 of September 12, 2016, signed with the company Mint of Finland.
• The Report from the Monetary Operations Management BCB-GTES-SAMM-DAMM-INF-2017-33 of March 10, 2017.
• The Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2017-55 of March 10, 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 the exclusive and non-delegable function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins.
• That it is an attribution of the Board of Directors under Article 54, paragraph 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, according to the issuance or storage requirements determined by GTES.
• That in accordance with the Coin Supply Contract SANO-DLABS No. 301/2016 signed with the company Mint of Finland, the Central Bank of Bolivia received the first batch of coins of the Bs5 denomination.

//2. B.R. No. 034/2017

• That Report BCB-GTES-SAMM-DAMM-INF-2017-33 establishes the need to monetize the first batch of coins of the Bs5 denomination.
• That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-DLBCI-INF-2017-55, the request for monetization of Bs5 coins made by GTES is legally appropriate as 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 established 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 Bs5 denomination coins according to the following detail:

DENOMINATION	NO. OF PIECES	VALUE IN Bs.
5	30,000,000	150,000,000
Total	30,000,000	150,000,000

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

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

La Paz, March 14, 2017

Pablo Ramos Sánchez

//3. B.R. No. 034/2017

Luis Baudoin Olca Ronald Polo Rivero Sergio Velarde Vera