DIRECTORATE RESOLUTION No. 152/2026

SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – REPEAL THE REGULATION FOR THE PURCHASE OF GOLD IN THE DOMESTIC MARKET DESTINED FOR THE STRENGTHENING OF INTERNATIONAL RESERVES AND GOLD EXPORT QUOTA

WHEREAS:

The Political Constitution of the State of 7 February 2009.

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

Law No. 1503 of 5 May 2023, on the Purchase of Gold Destined for the Strengthening of International Reserves.

Supreme Decree No. 5076 of 29 November 2023.

Supreme Decree No. 5747 of 13 October 2026.

Directorate Resolution No. 91/2026 of 29 June 2026, which approves the Regulation for the Purchase of Gold in the Domestic Market Destined for the Strengthening of International Reserves and Gold Export Quota.

The BCB Statute approved by Directorate Resolution No. 85/2026 of 23 June 2026.

Report BCB-GOI-SRES-DNI-INF-2026-45 of 16 October 2026, issued by the International Operations Management (GOI).

Report BCB-GAL-SANO-DLBCI-INF-2026-268 of 19 October 2026, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That the Political Constitution of the State in numeral 5) of paragraph I of its article 328 establishes that the BCB, in coordination with the economic policy determined by the Executive Branch, has the attribution to administer the International Reserves.

That Law No. 1670 in its articles 14 and 15 establishes that the BCB shall ensure the

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strengthening of the International Reserves, so that they allow the normal functioning of Bolivia's international payments and that said reserves are constituted by one or several of the assets, among which is physical gold.

That the referred Law in its articles 16 and 17 determines that the BCB shall administer and manage its International Reserves, being able to invest and deposit them in custody, as well as dispose and pledge them, in the manner it considers most appropriate for the fulfillment of its purpose and its functions and for their adequate safekeeping and security. It may likewise purchase exchange hedging instruments in order to reduce risks. The International Reserves are unseizable and may not be subject to precautionary, administrative or judicial measures, nor be subject to any state tax or contribution.

That in its articles 44 and 54 subparagraphs a), c) and o) Law No. 1670 provides that the highest authority of the BCB is its Directorate, which has the attributions to issue the norms and adopt the general decisions necessary for the BCB to fulfill the functions, competences and faculties assigned to it by Law; to monitor the execution of the policies and regulations for the administration of the International Reserves and to approve, modify and interpret the Statute and the Regulations of the BCB, by two-thirds of votes of the totality of its members, without the need for any additional administrative act.

That Law No. 1503 in its articles 1 and 5, authorizes the BCB to purchase gold from the domestic market for the strengthening of the International Reserves and to carry out financial operations with the International Reserves in gold in international markets and establishes that the BCB shall determine the conditions, characteristics, periodicity, limits and procedures for its acquisition, in accordance with regulations.

That Supreme Decree No. 5076 establishes the mechanism for the issuance of Gold Export Certificates (CEO) by the BCB and the periodic determination of the gold export quota.

That Supreme Decree No. 5747 repeals Supreme Decree No. 5076 and establishes a new mechanism for accrediting the inflow of foreign currency from gold exports, as a requirement for obtaining Form M-03 Single Export Form issued by the National Service of Registration and Control of the Commercialization of Minerals and Metals (SENARECOM). Likewise, it establishes determinations for the CEO in force and provides for the

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adaptation of the corresponding regulatory norms.

That the Regulation for the Purchase of Gold in the Domestic Market Destined for the Strengthening of International Reserves and Gold Export Quota regulates the acquisitions of gold made by the BCB within the framework of Law No. 1503, as well as the determination of the export quota and the issuance of CEO established in Supreme Decree No. 5076.

That the BCB Statute, in its article 11 numerals 1), 5) and 22), provides that the Directorate has the attributions to approve the general decisions and issue the norms necessary for the BCB to fulfill the functions, competences and faculties assigned to it by Law; to approve the policy and norms for the administration of the International Reserves, as well as to approve, modify and interpret its regulations.

CONSIDERING:

That by means of report BCB-GOI-SRES-DNI-INF-2026-45, the GOI concludes that given the enactment of Supreme Decree No. 5747 which repeals Supreme Decree No. 5076 and establishes a mechanism for accrediting the inflow of foreign currency from gold exports, it is necessary to adapt the internal norms of the BCB. Likewise, considering the optional nature of gold purchases established in Law No. 1503, it proposes to repeal the Regulation approved by Directorate Resolution No. 91/2026, establishing the treatment of the balances of CEO in force and of the gold previously acquired.

That by report BCB-GAL-SANO-DLBCI-INF-2026-268, the GAL concludes that the proposal to repeal the Regulation for the Purchase of Gold in the Domestic Market Destined for the Strengthening of International Reserves and Gold Export Quota, approved by Board Resolution No. 91/2026 of 29 June 2026, is legally admissible, as it does not infringe the current legal system, and therefore it is up to the BCB Board to approve it in accordance with the provisions of article 54 subparagraphs a), c) and o) of Law No. 1670, and article 11 numerals 1), 5) and 22) of the BCB Statute.

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

Article 1.- To repeal the Regulation for the Purchase of Gold in the Domestic Market Destined for the Strengthening of International Reserves and Gold Export Quota

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Gold Export Quota, approved by Board Resolution No. 91/2026 of 29 June 2026.

Article 2.- Gold acquired by the BCB prior to the effective date of this Resolution shall be subject to the following:

I. Gold acquired in the domestic market shall be kept in BCB vaults under the responsibility of the Treasury Management (GTES) until its shipment abroad for refining and/or investment operations.

II. Approval and departure from the national customs territory:

a) The departure of gold from the national customs territory for refining and/or investment abroad shall be approved by the BCB Board.

b) The International Operations Management (GOI) shall process the Ministerial Resolution authorizing the departure of gold from the national customs territory before the Ministry of Economy and Public Finance.

c) The General Management, the GOI and the GTES, within the framework of their functions, are entrusted with the execution of the technical, operational and administrative activities for the departure of gold from BCB vaults, complying with all security measures and within the framework of the signed contracts.

d) The GOI shall be responsible for verifying the receipt of gold at the custodian bank abroad and shall inform the BCB Board about the execution of the departures from the national customs territory.

Article 3.- The Gold Export Certificates issued and valid prior to the publication of Supreme Decree No. 5747 shall be subject to the provisions of the aforementioned Supreme Decree.

Article 4.- This Resolution shall enter into force as of the date of its approval.

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Article 5.- The Presidency and the General Management are entrusted with the compliance of this Resolution.

La Paz, 20 October 2026

FDO. DAVID IVÁN ESPINOZA TORRICO, Claudia Haydee Pacheco Ayala, Dennise Sussan Martin Alarcón, Walter Fernando Orellana Rocha, Álvaro Alfonso Romero Villavicencio.