Board Resolution No. 096/2025

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BOARD OF DIRECTORS

BOARD RESOLUTION NO. 096/2025

SUBJECT: TREASURY MANAGEMENT – AUTHORIZE THE MONETIZATION OF LEGAL TENDER Bs2 CUT MONETARY MATERIAL.

VIEWED:

The Political Constitution of the State of February 7, 2009.

Law No. 901 of November 28, 1986, on the Creation of a New Monetary Unit.

Law No. 1670 of October 31, 1995, on the Central Bank of Bolivia (BCB) and its modifications.

The BCB Statute, approved by Board Resolution No. 095/2022 of October 6, 2022.

Board Resolution No. 094/2018 of July 24, 2018, which approves the Regulation on Monetization, Distribution, and Destruction of Monetary Material and Destruction of Counterfeit Material and its modifications.

Board Resolution No. 067/2023 of May 2, 2023, which approves the Regulation on Exchange and Fractioning of Monetary Material of the BCB.

Report BCB-GTES-SAMM-DAMM-INF-2025-101 of July 25, 2025, issued by the Treasury Management (GTES).

Legal Report BCB-GAL-SANO-DLBCI-INF-2025-251 of July 28, 2025, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That Article 327 of the Political Constitution of the State determines that the BCB is a public law institution, with legal personality and its own assets. Within the framework

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//2. B.R. No. 096/2025

of the State's economic policy, it is the function of the BCB to maintain the stability of the internal purchasing power of the currency, to contribute to economic and social development.

That numeral 4 of paragraph I of Article 328 of the Political Constitution of the State establishes that it is an attribute of the BCB, in coordination with the economic policy determined by the Executive Branch, to authorize the issuance of currency.

That Articles 1 to 3 of Law No. 901 establish the creation of the Boliviano, as a new unit of the monetary system of the Plurinational State of Bolivia through banknotes and coins that the BCB will issue and circulate with the quality of legal tender and compulsory status, its symbol will be Bs (uppercase B followed by lowercase letters), which will be placed before, without space or period, the numerical expression; and recognizes the BCB as the sole issuer of banknotes and coins in “Boliviano” of legal tender and compulsory status.

That Article 1 of Law No. 1670 establishes that the Issuing Entity is the sole monetary authority of the country, with administrative, technical, and financial competence and specialized regulatory powers.

That Articles 10 and 11 of Law No. 1670 provide that the BCB will exercise exclusively and non-delegably the function of issuing the monetary unit of Bolivia named the “Boliviano”, in the form of banknotes and metallic coins, being that the banknotes and coins issued by the BCB are means of payment of legal tender throughout the territory of the Plurinational State of Bolivia, with unlimited liberatory power.

That Article 44 of Law No. 1670 provides that the highest authority of the BCB is its Board of Directors, responsible for defining its policies, specialized regulations of general application and internal rules; as well as for establishing administrative, operational, and financial strategies of the BCB.

That subsections a) and m) of Article 54 of the aforementioned Law determine that the BCB Board of Directors has the attribute to issue regulations and adopt general decisions that are necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law, and to authorize and supervise the printing, issuance, and destruction of banknotes and the minting and withdrawal of coins, within the norms of the aforementioned Law.

That numerales 1) and 11) of Article 10 of the BCB Statute provide that the BCB Board of Directors has the attribute to approve general decisions and issue regulations that are necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law, as well as, to approve the printing, issuance, and destruction of Boliviano banknotes and coins, and those issued for commemorative and numismatic purposes as well as their denominations, dimensions, designs, and colors, according to Regulations when applicable.

That Article 24 of the aforementioned Statute provides that resolutions and decisions of the Board of Directors are adopted by a simple majority of votes of the members present in a meeting, except in cases where Law No. 1670 or this Statute require qualified majorities.

That Article 26 of the Statute states that the Board of Directors pronounces itself on matters within its competence through Resolutions. It may also do so through decisions that will be expressly recorded in the Minutes. Every draft Board Resolution must be motivated and justified by a technical report from the Management or Managements to which the subject matter of the resolution corresponds and by a report from the GAL. These reports must be sent to the Board of Directors by the General Management with its recommendation.

That Articles 2 and 3 of the Regulation on Monetization, Distribution, Destruction of Monetary Material and Destruction of Counterfeit Material, define monetization as a privative function of the BCB as the sole issuer of the Boliviano, through which nominal value is granted to Boliviano banknotes and coins for their circulation. Likewise, it establishes that the BCB Board of Directors, through an express Resolution, will authorize the monetization of monetary material based on reports from GTES and GAL, according to the issuance or storage requirements determined by GTES.

That Articles 4 and 5 of the Regulation on Monetization, Distribution, Destruction of Monetary Material and Destruction of Counterfeit Material determine that the monetization authorization will be recorded in Minutes signed by a Director designated by the BCB Board of Directors,

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//4. B.R. No. 096/2025

the General Manager, the Treasury Manager, and the Deputy Manager of Monetary Material Operations; GTES will register the monetization of banknotes and coins, accounting for the transfer of the nominal value of each of the denominations of “Monetary Material in Warehouses” to the “Central Vault” account.

That the Regulation on Exchange and Fractioning of Monetary Material of the BCB aims to regulate the exchange and fractioning operations of Boliviano banknotes and/or coins that must be carried out by all Financial Intermediation Entities supervised by the Financial System Supervision Authority.

That the technical report BCB-GTES-SAMM-DAMM-INF-2025-101 from GTES concludes that the issuance of the Bs2 Bicentennial Legal Tender coins links a historical milestone with the purpose of satisfying the population's demand for coins and, in general terms, meeting issuance requirements, in accordance with current regulations, therefore it is considered technically viable. For this effect, the coins to be used will correspond to the pieces recently delivered to the BCB and which were provided under Contract SANO-DLABS No. 4/2025 and Amending Contract SANO-DLABS No. 98/2025 signed with the company MENNICA POLSKA S.A., as follows: material amounting to 91,500 pieces of Bs2 Bicentennial Legal Tender, with a nominal value of Bs183,000; recommending to the BCB Board of Directors to authorize its monetization.

That the legal report BCB-GAL-SANO-DLBCI-INF-2025-251 from GAL concludes that the request from GTES through report BCB-GTES-SAMM-DAMM-INF-2025-101, regarding the monetization of 91,500 pieces of Bs2 Bicentennial Legal Tender, equivalent to Bs183,000, is legally appropriate by virtue of the legal provisions contained in the Political Constitution of the State, Articles 1 and 3 of Law No. 901, Law No. 1670, and the BCB Statute; corresponding to the BCB Board of Directors to authorize the monetization by simple majority of votes. Finally, in the exercise of the supervision attribute, it corresponds to the BCB Board of Directors to designate one of its members to participate in the corresponding monetization act.

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//5. B.R. No. 096/2025

THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Authorize the monetization of Bs2 cut coins of the Bicentennial Legal Tender, according to the following detail:

Cut	Quantity (pieces)	Amount (Bs)
Bs2 Bicentennial Legal Tender	91,500	Bs183,000

Article 2.- Designate Acting Director Miguel Angel Marañon Urquidi to represent the Board of Directors and participate in the monetization act of the aforementioned material.

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

La Paz, July 29, 2025

SIGNED. ROGER EDWIN ROJAS ULO, Gumercindo Héctor Pino Guzmán, Miguel Angel Marañon Urquidi, Victor Gonzalo Calisaya Gomez.

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