Resolution 030/2011

BOARD RESOLUTION NO. 030/2011
SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES MODIFICATIONS TO THE REGULATION FOR THE GRANTING OF CREDIT TO STRATEGIC NATIONAL PUBLIC ENTERPRISES WITHIN THE FRAMEWORK OF THE GENERAL STATE BUDGET – 2010 AND 2011 MANAGEMENT PERIODS, APPROVED BY BOARD RESOLUTION NO. 23/2011.

HAVING SEEN:

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

The Statute of the BCB, approved by Board Resolution No. 128/2005, of October 21, 2005, and its subsequent modifications.

The Board Resolutions: No. 023/2011, of February 22, 2011, which approves the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods; No. 026/2011 of March 2, 2011; and No. 027/2011 of March 18, 2011, which approve modifications to the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods.

The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2011-089 of March 22, 2011.

CONSIDERING:

That by Board Resolution No. 023/2011, of February 22, 2011, the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods was approved.

That Board Resolutions 026/2011 and 027/2011 approve modifications to articles 2, 3, and 4 of the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods.

That the Legal Affairs Management, through report BCB-GAL-SANO-INF-2011-089, concludes that the proposed modifications to the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods, intended to clarify the operative wording of item 7) of paragraph I of article 2 and of article 10 of the aforementioned Regulation, are legally

//2. B.R. No. 030/2011 lawful, as they do not contravene the current legal framework, and it is within the competence of the BCB Board to consider their approval.

That article 11, item 29 of the BCB Statute, concordant with article 54, clause o) of Law No. 1670, establishes that the Board has the authority to approve, modify, and interpret the Statute and regulations by two-thirds of the votes of its members, without the need for any additional administrative act.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Eliminate item 7) of article 2, paragraph I) of the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods.

Article 2.- Article 10 of the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods is modified as follows:

SAYS:

Article 10.- (Use and Destination of Credit Resources)
The use and destination of the resources of the credit granted is the exclusive responsibility of the SNPE. The supervision and control of the use and destination of the resources of the credit granted is the exclusive responsibility of the head sector ministry.

SHOULD SAY:

“Article 10.- (Registration and Accreditation, of the Use and Destination of Credit Resources) The registration and accreditation of the credit in the GTN, as well as the use and destination of the resources of the credit is the exclusive responsibility of the SNPE. The supervision and control of the use and destination of the resources of the credit granted is the exclusive responsibility of the head sector ministry.”

Article 3.- The modifications to the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – 2010 and 2011 Management Periods will enter into force from the date of approval of this Resolution.

Article 4.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, March 22, 2011

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Marcelo Zabalaga Estrada

_________________________ _________________________ Ernesto Yáñez Aguilar Rolando Marín Ibáñez

_________________________ _________________________ Hugo Dorado Araníbar Gustavo Blacutt Alcalá

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Rafael Boyán Téllez