Regulatory Alerts2008-05-20 | Resolución 063/2008Added · Updated
Resolution 063/2008
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 3,000,000 newly minted coins with a denomination of Bs. 0.20, resulting in a total value of Bs. 600,000.00. The resolution designates Director Hugo Dorado to represent the Board during the monetization ceremony and assigns the Presidency and General Management with the execution and compliance of this measure.
BOARD RESOLUTION NO. 063/2008 SUBJECT: MONETARY OPERATIONS MANAGEMENT - AUTHORIZES MONETIZATION OF COINS OF DENOMINATION Bs0.20.
SEEN: The Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on the Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 108/2001 of October 30, 2001. The Coin Minting Contract SANO No. 215/2007 of December 19, 2007, and its Amending Addendum SANO No. 087/2008 of May 9, 2008, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 074/2008 of May 19, 2008. The Report from the Legal Affairs Management SANO No. 133/2008 of May 20, 2008.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the monetary system of the Republic, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as a legal means of payment, 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 the monetary unit of Bolivia, in the form of banknotes and metallic coins.
That in accordance with the Coin Minting Contract and its Amending Addendum, the Central Bank of Bolivia has received from the Chilean Mint the third shipment of newly minted coins of the Bs0.20 denomination.
That it is the attribution of the Board according to Article 54, subsection 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 Regulation 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.
That the Report STES No. 074/2008 considers the monetization of newly minted coins of the Bs0.20 denomination necessary and recommends that the BCB Board consider the monetization of the monetary material delivered in vaults by the provider, the Chilean Mint.
That in the opinion of the Legal Affairs Management according to Report SANO No. 133/2008, there is no legal impediment for the BCB Board, in attention to its faculties and competencies, to approve the monetization of newly minted coins of the Bs0.20 denomination.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of newly minted coins of the denomination Bs. 0.20 according to the following detail:
DENOMINATION | NUMBER OF PIECES | VALUE IN Bs. 0.20 | 3,000,000 | 600,000.00 TOTAL | 3,000,000 | 600,000.00
Article 2.- Designate Director Hugo Dorado to participate on behalf of 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, May 20, 2008
Raúl Garrón Claure
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibáñez Ernesto Yáñez Aguilar
Osvaldo Nina Baltazar
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