BOARD OF DIRECTORS

BOARD RESOLUTION NO. 181/2024

SUBJECT: GENERAL MANAGEMENT – MODIFY THE COMMISSIONS TABLE FOR SERVICES OF THE CENTRAL BANK OF BOLIVIA.

VIEWED:

• The Political Constitution of the State, dated February 7, 2009 (CPE).
• Law No. 1670, dated October 31, 1995, of the Central Bank of Bolivia (BCB) and its modifications.
• Supreme Decree No. 29681 of August 20, 2008, and its modifications.
• The BCB Statute approved via Board Resolution No. 095/2022 of October 6, 2022.
• Board Resolution No. 123/2022 of December 27, 2022, and its modifications.
• The technical report BCB-GOI-SRES-DOI-INF-2024-213 of December 27, 2024, issued by the International Operations Management (GOI) and Treasury Management (GTES).
• The legal report BCB-GAL-SANO-INF-2024-546 of December 27, 2024, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That Article 327 of the CPE determines that the 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 stability of the internal purchasing power of the currency, to contribute to economic and social development.

That Article 1 of Law No. 1670, modified by Article 64, section A3, item 1) of Law No. 1864 of June 15, 1998, on Popular Property and Credit, establishes that

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the BCB is a State institution, of public law, of an autarkic nature, of indefinite duration, with its own legal personality and assets, and with its 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 regulatory powers of general application.

That Article 3 of Law No. 1670 establishes that the BCB, within the framework of the Law, will formulate policies of general application in monetary, exchange, and payments system matters for the fulfillment of its object.

That Article 20 of Law No. 1670 establishes that the BCB is empowered to regulate financial operations with foreign countries, carried out by public and private persons or entities.

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 regulations of general application, and internal rules; as well as establishing administrative, operational, and financial strategies of the BCB, approving their respective short- and medium-term programs. For the monitoring and oversight of their execution, it will have access to independent information, analysis, and audit services.

That subsections a) and q) of Article 54 of Law No. 1670 indicate as attributions of the Board of Directors 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, those indicated by said Law, and those necessary for the fulfillment of its functions.

That Article 4 of Supreme Decree No. 29681 establishes that Financial Intermediation Entities (EIFs) must carry out operations for the physical entry and exit of foreign currency from the national territory exclusively through the BCB, following the procedures and conditions established by that entity.

That items 1) and 3) of Article 5 of the BCB Statute provide that its Board of Directors

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has regulatory competence to issue specialized regulations in the fields assigned by Law and technical competence for the formulation of policies and the application of instruments that allow it to fulfill its object.

That items 1) and 44) of Article 10 of the BCB Statute provide that the Board of Directors has the attributions 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, and to set the table of commissions that the BCB must charge for the services it provides.

That Paragraph I of Article 24 of said norm provides that Resolutions and decisions of the Board of Directors are adopted by a simple majority of votes of its members present in a meeting, except in cases where Law No. 1670 or the BCB Statute require qualified majorities.

That Paragraphs I and II of Article 26 of the BCB Statute stipulate 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 GAL. These reports must be submitted to the Board of Directors by the General Management with its recommendation.

That item 23 of section 2 (Commissions to the Financial System) approved via Board Resolution No. 123/2022 and its modifications, establishes the fixed and variable commissions for the service of "Importation of USD on behalf of EIFs."

That report BCB-GOI-SRES-DOI-INF-2024-213 concludes that within the framework of Article 4 of Supreme Decree No. 29681, the BCB carries out the importation of USD on behalf of EIFs, a service for which a commission (fixed and variable) is charged; and that through the ASFI, they had indicated that the high cost of purchasing foreign currency abroad causes exceptionally high expenses for the EIF, even more so when considering the importation commission applied by the BCB for this concept; therefore, with the objective of facilitating the entry of USD that EIFs have abroad and generating greater

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inflows of foreign currency into the country, the commission currently charged by the BCB for the service of USD importation on behalf of EIFs was evaluated, determining the modification of both components, fixed and variable; being technically viable to modify the commission for "Importation of USD on behalf of EIFs," contained in item 23 of section 2. (Commissions to the Financial System) of the BCB's Table of Commissions for Services and Fines.

That legal report BCB-GAL-SANO-INF-2024-546 concludes that the proposal of GOI and GTES regarding the modification of Board Resolution No. 123/2022 and its modifications, aims to reduce the fixed commissions from (Bs 278,400 to Bs 164,640) and variable commissions from (0.20% to 0.10%) of the Service of "Importation of USD on behalf of EIFs," being viable for approval by the BCB Board of Directors, as it does not contravene any legal provision and falls within the attributions of the BCB.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify the Table of Commissions for Services of the Central Bank of Bolivia in its section 2 (Commissions to the Financial System), item 23. (Importation of USD on behalf of EIFs) approved via Board Resolution No. 123/2022 of December 27, 2022, and its modifications, with the following text:

"(...)"

No.	Description	Bs	(%)	RESPONSIBLE MANAGEMENT
23.	Importation of USD on behalf of EIFs	164,640	0.10	International Operations / Treasury

Article 2.- This Resolution shall enter into effect from the date of its approval.

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

La Paz, December 30, 2024.

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