Regulatory Alerts2025-10-17 | RESOLUCIONES DE DIRECTORIO N° 129/2025Added · Updated
Board Resolution No. 129/2025
The Central Bank of Bolivia amends the regulations governing the Gold Export Quota and the Gold Export Certificate (CEO) to integrate the process into the Single Foreign Trade Window (VUCE). The resolution mandates that CEO applications be submitted digitally via VUCE, sets a 60-day deadline for requests after gold sales, and establishes a 15-day validity period for certificates with one optional renewal. It introduces specific provisions for exporting mineral concentrates containing less than 500 grams of gold per ton, requires a one-business-day response time for such cases, and grants existing traders 180 days to utilize accumulated balances before they are automatically cancelled.
[Logo: Bicentenario de Bolivia] [Logo: Central Bank of Bolivia] [Logo: Plurinational State of Bolivia]
BOARD OF DIRECTORS
BOARD RESOLUTION NO. 129/2025
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – MODIFY THE REGULATION FOR THE DEFINITION OF THE GOLD EXPORT QUOTA AND FOR THE ISSUANCE OF THE GOLD EXPORT CERTIFICATE.
VIEWED:
The Political Constitution of the State (CPE) of February 7, 2009.
Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB) and its modifications.
Law No. 1503 of May 5, 2023 Law on the Purchase of Gold Intended for Strengthening International Reserves.
Supreme Decree No. 5076 of November 30, 2023.
Supreme Decree No. 5211 of August 28, 2024.
The BCB Statute approved by Board Resolution No. 095/2022 of October 6, 2022.
Board Resolution No. 039/2024 of March 18, 2024, which approves the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate and its modification.
The report BCB-GOI-SRES-DOI-INF-2025-83 of October 9, 2025 from the International Operations Management (GOI).
The report BCB-GAL-SANO-DLBCI-INF-2025-353 of October 13, 2025 from the Legal Affairs Management (GAL).
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CONSIDERING:
That Article 327 of the Political Constitution of the State determines that the Central Bank of Bolivia (BCB) is a public law institution, with legal personality and its own assets, which, within the framework of the State's economic policy, has the function of maintaining the internal purchasing power stability of the currency, to contribute to economic and social development.
That paragraph 5 of paragraph I of Article 328 of the Political Constitution of the State establishes that it is an attribute of the Central Bank of Bolivia - BCB, in coordination with the economic policy determined by the Executive Branch, to administer international reserves.
That Paragraph I of Article 349 of the Political Constitution of the State provides that natural resources are of direct, indivisible, and imprescriptible ownership and domain of the Bolivian people, and their administration will correspond to the State in accordance with the collective interest.
That Article 1 of Law No. 1670 establishes that the Central Bank of Bolivia is an institution of the State, of public law, of an autarkic nature, of indefinite duration, with its own legal personality and assets and with legal domicile in the city of La Paz. It is the sole monetary and exchange authority of the country, with administrative, technical, and financial competence and specialized normative faculties of general application.
That Articles 14 and 15 of Law No. 1670 provide that the BCB will ensure the strengthening of International Reserves so as to allow the normal functioning of Bolivia's international payments, with physical gold constituting one of the assets corresponding to International Reserves.
That Article 44 of Law No. 1670 establishes that the highest authority of the BCB is its Board of Directors, which is responsible for defining its policies, specialized norms of general application, and internal rules.
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That items a), c), and o) of Article 54 of Law No. 1670 indicate as attributes of the Board of Directors the following: Issue norms and adopt general decisions that may be necessary for the BCB to fulfill the functions, competencies, and faculties assigned to it by the Law; carry out follow-up on the execution of monetary, exchange, credit, financial intermediation, and international reserve administration policies and regulations; and approve, modify, and interpret the Statute and Regulations of the BCB, by two-thirds of the votes of all its members, without the need for any additional administrative act.
That Article 5 of Law No. 1503 provides that the Central Bank of Bolivia will establish the conditions, characteristics, periodicity, limits, and procedures for the acquisition of gold from the domestic market, in accordance with regulations issued by the Central Bank of Bolivia.
That the Final Provision of Law No. 1503 states that within the framework of Articles 327 and 328 of the Political Constitution of the State, the BCB, with the objective of complying with its constitutional mandate, is authorized to apply what is provided in Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia and its modifications, which is sufficient for the development of its functions, without requiring further provisions from said law.
That Paragraph II of Article 2 of Supreme Decree No. 5076 determines that the BCB, through specific regulation issued by its Board of Directors, will define the quota that will be exported periodically and the requirements for the issuance of the Gold Export Certificate.
Paragraph I of the Sole Transitional Provision of Supreme Decree No. 5076 establishes that the BCB must regulate paragraph II of Article 2 of the aforementioned Supreme Decree.
That Articles 1 and 2 of Supreme Decree No. 5211 have as their object to achieve the simplification, modernization, and harmonization of foreign trade operations, taking advantage of the development of information and communication technologies, creating the Bolivia Single Foreign Trade Window (VUCE) as an instrument for facilitating
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trade, as well as to establish the terms for its implementation, administration, and operation, which constitutes the sole electronic platform for processing requirements for foreign trade operations, issued by public entities, with the aim of simplifying, speeding up, making transparent, and standardizing the management of foreign trade procedures.
That items 1) and 30) of Article 10 of the BCB Statute provide that the BCB Board of Directors has the attributes of approving general decisions and issuing norms that may be necessary for the BCB to fulfill the functions, competencies, and faculties assigned to it by the Law; as well as approving, modifying, and interpreting the Statute and Regulations of the BCB by two-thirds of the votes of all its members, without the need for an additional administrative act.
That Article 26 of the Statute stipulates 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. Likewise, every draft Board Resolution must be motivated and justified by a technical report from the Management or Managements to whom the subject matter of the resolution corresponds and by a report from the Legal Affairs Management. These reports must be sent to the Board of Directors by the General Management with its recommendation.
That the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate aims to regulate the determination of the gold export quota and the requirements for the issuance of the Gold Export Certificate (CEO).
That Article 2 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate regarding Scope of Application provides that all exporters whose goods to be exported are framed within the tariff subheadings contemplated in paragraph I of article 2 of Supreme Decree No. 5076 of November 30, 2023, are subject to the aforementioned Regulation.
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That GOI, through report BCB-GOI-SRES-DNI-INF-2025-83, states that the proposal to modify the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate aims to take advantage of the opportunities offered by VUCE for foreign trade operations and to simplify, speed up, and make transparent the procedures for issuing the CEO, being technically viable; and recommends the approval by the BCB Board of Directors.
That GAL, through report BCB-GAL-SANO-DLBCI-INF-2025-353, concludes that considering report BCB-GOI-SRES-DOI-INF-2025-83, the modification of Articles 4, 5, 6, 8, and Annex, the elimination of the Final Provision, and the incorporation of the Sole Transitional Provision to the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate proposed by the International Operations Management is legally appropriate, as it does not contravene the current legal framework, recommending the approval by the BCB Board of Directors.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Modify Article 4 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modification, with the following text:
“Article 4. (CHARACTERISTICS OF THE GOLD EXPORT CERTIFICATE).
I. The CEO will be requested and obtained solely through the Bolivia Single Foreign Trade Window (VUCE) in digital format, with the following characteristics:
- Sequential number of CEO
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- Quantity to be exported in grams of fine gold and its equivalent in kilograms.
- Date of issuance
- Validity (not exceeding fifteen (15) calendar days from the date of its issuance, within which the exporter must carry out the export of the authorized gold)
- Name or denomination of the exporter
- Tax Identification Number
- An authorized digital signature of the BCB (internal security measure)
- QR code (quick-response) for verification
II. The CEO must be requested up to 60 calendar days after the sale of gold to the BCB has been carried out and settled. If the request is not made within the established deadline, the BCB will reject it.
III. The seller may request the exchange of the CEO before the BCB via email addressed to solicitudes-ceo@bcb.gob.bo, in accordance with the format established in the Annex.
IV. The CEO will be valid only for one export and cannot be used in another export operation.
V. Once the CEO has been issued, the exporter may request a renewal only once for a period of fifteen (15) calendar days. Such renewal can only be made within the validity period of the CEO.
VI. In the event that the issued CEO has not been used within the established deadline, the requested quantity of the expired CEO will be automatically deducted from the accumulated available balance.
VII. During situations of technical contingency (of the National Customs and/or the BCB), the email address solicitudes-ceo@bcb.gob.bo will be used
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as a valid means to manage the request and sending of digital CEOs.”
Article 2.- Modify Article 5 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modifications, with the following text:
“Article 5.- (REQUIREMENTS FOR THE ISSUANCE OF THE GOLD EXPORT CERTIFICATE)
To obtain a CEO, the following requirements must be met:
a) Have registration as a gold seller to the BCB. b) Have an Operator of Foreign Trade (OCE) user to operate on the VUCE platform. c) Have an email registered with the BCB (applies only for CEO exchange requests and/or contingency situations) d) Have an available balance (kg) according to gold sales made to the BCB.”
Article 3.- Modify Article 6 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modifications, with the following text:
“Article 6.- (OF VERIFICATION)
In the event that the exporter meets the requirements established in the preceding Article and after verification of the quantity of fine gold to the BCB, the International Operations Management will enable the available quantity of fine gold in VUCE, so that the interested party can generate the CEO on said platform.”
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Article 4.- Modify Article 8 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modifications, with the following text:
“Article 8.- (GOLD EXPORT CERTIFICATE FOR MINERAL CONCENTRATES WITH GOLD CONTENT).
I. For the export of mineral concentrates with gold content, the BCB may issue the corresponding CEO through the VUCE platform without requiring the prior sale of an equivalent quantity of gold, provided that the quantity of gold contained in each ton of mineral concentrate is less than 500 grams and is not recoverable within the national territory.
II. Companies dedicated to the production and export of mineral concentrates with gold content must register in the BCB database as established in the Regulation on the Purchase of Gold in the Domestic Market Intended for Strengthening International Reserves.
III. Each request for the issuance of a CEO must attach via the VUCE platform:
a) Form M-03 (scanned) indicating the quantity of gold contained in the concentrate and its mineral grade. b) Laboratory result (scanned) duly certified by IBMETRO.
The response deadline for the issuance of the CEO by the BCB for mineral concentrates with gold content will be a maximum of one (1) business day.”
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Article 5.- Incorporate the Sole Transitional Provision to the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modifications, with the following text:
“SOLE TRANSITIONAL PROVISION
Trading companies that have accumulated balances for the issuance of CEO due to gold sales to the BCB will have a deadline of up to 180 calendar days, computable from the publication of this Regulation, to request the corresponding issuance. Upon expiration of said deadline, the unsolicited balances will be automatically eliminated.”
Article 6.- Modify the Annex of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, approved by Board Resolution No. 039/2024 of March 18, 2024 and its modifications.
Article 7.- Declare null and void the Final Provision of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate, incorporated by Board Resolution No. 038/2025 of March 13, 2025 in its Article 4.
Article 8.- This Resolution will enter into force from its publication.
Article 9.- The Presidency and the General Management are charged with the compliance of this Resolution.
La Paz, October 14, 2025
SIGNED: ROGER EDWIN ROJAS ULO, Gumercindo Héctor Pino Guzmán, Miguel Angel Marañon Urquidi, Victor Gonzalo Calisaya Gomez.
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ANNEX
Date: / /
Sir General Manager Central Bank of Bolivia Present:-
REF: Request for CEO Exchange
I …………. representative of the company ………………. request to exchange the Gold Export Certificate (CEO) No. …….. for …….. grams of fine gold issued in favor of the company I represent, as established in Article 4 of the Regulation for the Definition of the Gold Export Quota and for the Issuance of the Gold Export Certificate.
Sincerely.
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