Regulatory Alerts2010-04-06 | Resolución 049/2010Added · Updated
Resolution 049/2010
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 28,550,000 coins with a denomination of Bs 5, resulting in a total face value of Bs 142,750,000. Director Hugo Dorado is designated to represent the Board at the monetization ceremony. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 049/2010 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs 5.- CUT COINS
HAVING REVIEWED: 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 Regulations for the Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 047/2009 of April 14, 2009. The Coin Minting Contract SANO No. 078/2009 of May 19, 2009, and its Modifying Addendum SANO No. 113/2009 of June 15, 2009, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 045/2010 of March 29, 2010. The Report from the Legal Affairs Management SANO No. 097/2010 of April 1, 2010.
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 non-delegably the function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins. That in accordance with the Coin Minting Contract and its Modifying Addendum, the Central Bank of Bolivia has received the twelfth receipt of metallic monetary material from the Chilean Mint. That it is an attribution of the Board according to Article 54, paragraph 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 9 of the Regulations for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the BCB Board to authorize the monetization of banknotes and coins.
//2. B.D. No. 049/2010 That the Report STES No. 045/2010 considers the monetization of Bs5.- cut coins necessary and recommends that the BCB Board consider the monetization of the monetary material delivered to the vault by the provider, the Chilean Mint. That in the opinion of the Legal Affairs Management according to Report SANO No. 097/2010, there is no legal impediment for the BCB Board, in attention to its faculties and competencies, to approve the monetization of Bs5.- cut coins.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of Bs5.- cut coins according to the following detail:
CUT NUMBER OF PIECES VALUE IN Bs. 5.- 28,550,000 142,750,000 TOTAL 28,550,000 142,750,000
Article 2.- Designate Director Hugo Dorado, to represent the Board in the act of monetization of the cited material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, April 6, 2010
Rolando Marín Ibáñez
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Ernesto Yáñez Aguilar Rafael Boyán Téllez
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