Board Resolution No. 140/2015

BOARD RESOLUTION NO. 140/2015

SUBJECT: TREASURY MANAGEMENT — AUTHORIZES MONETIZATION OF Bs20 NOTES

HAVING SEEN:

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. 061/2015 of April 28, 2015.

The Banknote Provision Contract SANO No. 095/2014 of April 28, 2014, signed with the company Oberthur Technologies SAS, and modifying contracts SANO No. 344/2014 of November 17, 2014, and SANO No. 31/2015 of January 12, 2015.

The Report from the Monetary Operations Management BCB-GTES-SAMM-DAMM-INF-2015-20 of August 7, 2015.

The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2015-304 of August 10, 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 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 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 the reports of the Treasury Management (GTES) and the Legal Affairs Management in relation to the issuance or storage requirements determined by the GTES.

That in accordance with the Banknote Provision Contract SANO No. 095/2014 and the modifying contracts signed with the company Oberthur Technologies, the Central Bank of Bolivia received the second batch of banknotes of the Bs20 denomination.

That Report BCB-GTES-SAMM-DAMM-INF-2015-20 establishes the need to introduce banknotes of the Bs20 denomination starting from the month of August of the current fiscal year.

That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2015-304, the request for monetization of banknotes of the Bs20 denomination made by the 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 provided 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 banknotes of the Bs20 denomination according to the following detail:

DENOMINATION | NUMBER OF PIECES | VALUE IN Bs. 20 | 25,300,000 | 506,000,000 Total | 25,300,000 | 506,000,000

Article 2.- Appoint Director Reynaldo Yujra to represent the Board of Directors in the act of monetization of the aforementioned material.

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

La Paz, August 11, 2015

[Signatures]

Gio Velarde Vera Reynaldo Yujra Segajei