Regulatory Alerts2003-07-08 | Resolución 077/2003Added · Updated
Resolution 077/2003: Extension of Deadline for FONDESIF to Submit Proposal to Cancel Obligations with the Central Bank of Bolivia and Forgiveness of Penal Interest
The Board of Directors of the Central Bank of Bolivia grants the Financial Development Fund of the Financial System and Support for the Productive Sector (FONDESIF) an 180-day extension, effective July 1, 2003, to submit a proposal for restructuring its credits funded by the Central Bank and IDA Line 1925/BO. The resolution accepts FONDESIF's proposal to pay current interest and postpones principal amortization until a restructuring agreement is reached. Additionally, the Central Bank forgives penal interest amounting to $884,888.89 accrued between December 31, 2002, and June 30, 2003, regarding the IDA Line 1925/BO credit.
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