Resolution 015/2002

BOARD RESOLUTION NO. 015/2002

SUBJECT: FINANCIAL ENTITIES MANAGEMENT – OFFER OF PAYMENT IN KIND OF EXTRA-JUDICIAL CLAIMS OF BANKS IN LIQUIDATION WITH REAL ESTATE AND SIMULTANEOUS TRANSFER TO THE GENERAL TREASURY OF THE NATION.

HAVING SEEN:

Law 1670 of October 31, 1995.

Law 1488 of April 14, 1993 and its subsequent modifications.

Board Resolution No. 074/2001 of July 31, 2001.

The note from the Undersecretariat of Treasury and Public Credit CITE: VM.T.C.P. No. 0911/2001 of November 6, 2001 and the background documents attached to it.

The report from the Financial Entities Management GEF.SRRA 014/2002 of January 15, 2002.

The Internal Communication from the Accounting Management DAF-333-1052/2001 of July 27, 2001.

The Internal Communication from the Legal Affairs Management SAJU No. 016/2002 of January 9, 2002.

CONSIDERING:

That through Board Resolution No. 074/2001, the Board of Directors of the BCB approved the partial payment in kind of extra-judicial claims of BIDESA and Banco Sur, both in liquidation, to the BCB, with value titles issued by the TGN for a total of $6,190,091.78.

That this operation implied the transfer of real estate from the banks in liquidation in favor of the TGN and the participation of the BCB as a creditor paid partially against the decrease in extra-judicial obligations of BIDESA and Banco Sur.

That the Undersecretary of Treasury and Public Credit, through technical justification, incorporated in note CITE: VM.T.C.P. No. 0911/2001, requests the President of the BCB to modify the procedure for the transfer of real estate.

That in its report GEF.SRRA 014/2002, the Financial Entities Management states that the result of the modality proposed by the TGN does not alter the recovery of claims of the Banks in Liquidation, which was authorized by Board Resolution No. 074/2001 of July 31, 2001.

That Laws 2134 and 2247 authorize the Executive Power, through the Ministry of Finance, the transfer of the real estate of Banco Sur (Hotel Ganadero) located in the city of Trinidad and of BIDESA in Cochabamba, in favor of the Technical University of Beni “Mariscal José Ballivián” and the Mayor University of San Simón, respectively.

That through Internal Communication SAJU No. 016/2002, the Legal Affairs Management recommends the modification of Board Resolution No. 074/2001 because it does not contemplate the receipt of real estate in payment in kind, nor the subsequent transfer of the same in favor of the TGN.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify Article 1 of Board Resolution No. 074/2001 of July 31, 2001, with the following wording:

SAYS:

Article 1.- Approve the partial payment in kind of extra-judicial claims of BIDESA and Banco Sur in Liquidation to the BCB, with Value Titles issued by the TGN for a total of $6,190,091.78, as follows:

• Five Value Titles in foreign currency issued by the TGN. • Nominal value of each Value Title: $1,238,018.36. • The maturity of each Value Title is annual, up to 5 years. • Interest Rate of 1.85% per annum.

SHOULD SAY:

“Article 1.- Approve the offer of partial payment in kind of extra-judicial claims of BIDESA and Banco Sur, both in liquidation, to the BCB, with the following real and personal property included in them:

BANCO SUR S.A. IN LIQUIDATION

TYPE OF PROPERTY DESCRIPTION ADDRESS AMOUNT $us

TOTAL BANCO SUR S.A. IN LIQUIDATION 4,194,455.93

Real estate, furniture and fixtures (*) Ex Hotel Ganadero, land of 1,146 m2 and built area 5,232 m2 ($2,390,612.00) includes furniture and fixtures of the Hotel ($56,081.90) Av. 6 de agosto No. 61 between Av. Pedro de la Rocha and Av. 18 de noviembre (Trinidad – Beni) 2,446,693.90

Land (*) Agricultural and Livestock Property Williams and Claudia Rural Funds. Total surface 521.387 Has. Kilometer 12 on the Guayaramerín – Cachuela Esperanza highway. Canton Guayaramerín (Vaca Diez Province – Trinidad) 272,875.27

Land (*) FEXPOBENI Fairground, 290,010 m2. Extension Av. Ganadera right margin highway to San Javier s/n Zone Chequeteji (Cercado Province – Beni) 1,210,598.76

Real estate, equipment and tools (**) BIG BENI Workshop, 800 m2, ($255,618.00) includes equipment and tools ($8,670) Av. Adolfo Velasco s/n between Matiniano Fuentes streets and Hnas. de la caridad (Trinidad – Beni) 264,288.00

(*) The detail of furniture and fixtures is described in the note from Banco Sur in liquidation with CITE No. INT. ESP. LIQ. 1002/00, under custody of the Financial Entities Management. (**) The detail of equipment and tools is described in the note from Banco Sur in liquidation with cite INT.ESP.LIQ. No.132/01, under custody of the Financial Entities Management.

BANCO INTERNACIONAL DE DESARROLLO S.A. IN LIQUIDATION

TYPE OF PROPERTY DESCRIPTION ADDRESS AMOUNT $us

TOTAL BIDESA IN LIQUIDATION 1,995,635.85

Real estate, furniture and fixtures (*) Built area 3,525.80 m2, land 746.63 m2. (under custody of the UMSS) ($1,902,852.62) includes a computer, two telephone lines and furniture ($92,783.23) Av. Ballivián No. 541 corner of José de la Reza street. El Prado (Cochabamba) 1,995,635.85

TOTAL $us 6,190,091.78

(*) The detail of furniture and fixtures is described in the note from BIDESA in liquidation with cite IL-BIN-498/2000, under custody of the Financial Entities Management.

Simultaneously, authorize the transfer of said real estate and personal property in favor of the General Treasury of the Nation which will pay the BCB a total of $6,190,091.78 in the following manner:

• Five Value Titles in United States dollars issued by the TGN. • Nominal value of each Value Title: $1,238,018.36. • The maturity of each Value Title is annual, up to 5 years. • Interest Rate of 1.85% per annum.”

Article 2.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, February 5, 2002

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Juan Antonio Morales A.

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Juan Medinaceli V. Armando Méndez M.

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Javier Comboni S. Enrique Ackermann A.