Regulatory Alerts2011-08-10 | Resolución 098/2011Added · Updated
Resolution 098/2011
The Board of Directors of the Central Bank of Bolivia revokes Resolution 012/2011 of January 18, 2011, which had previously authorized a concessional credit of up to Bs846,000,000 to ENDE. This revocation is necessitated by the abrogation of the supporting Ministerial Resolution No. 465-10 by the Ministry of Hydrocarbons and Energy, which instead requested a credit of Bs763,938,000 for the "Southern Thermoelectric Plant Project." The Presidency and General Management are tasked with executing and complying with this resolution.
BOARD RESOLUTION NO. 098/2011 SUBJECT: THE BOARD OF DIRECTORS DECLARES BOARD RESOLUTION NO. 012/2011 OF JANUARY 18, 2011, NULL AND VOID.
HAVING REVIEWED: The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Board Resolution No. 012/2011 of January 18, 2011. The Ministerial Resolution of the Ministry of Hydrocarbons and Energy No. 316-11, of August 2, 2011. The Report from the Economic Policy Advisory Office BCB-APEC-SSMF-INF-2011-022 of August 9, 2011. The Report from the Monetary Operations Management BCB-GOM-SOSP-DCE-INF-2011-9 of August 5, 2011. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2011-278 of August 9, 2011.
CONSIDERING: That within the framework of the provisions contained in the General State Budget 2010, the Ministry of Hydrocarbons and Energy promulgated Ministerial Resolution No. 465-10, which at the time served as the basis for the BCB Board to approve, via Board Resolution No. 012/2011, the request for a concessional extraordinary credit to ENDE, for an amount of up to Bs846,000,000.- (Eight hundred forty-six million 00/100 bolivianos), authorizing the President of the Institution to negotiate with ENDE the conditions and terms of the aforementioned contract.
That through Ministerial Resolution No. 316-11, the Ministry of Hydrocarbons and Energy determines to request a credit of Bs763,938,000.- (Seven hundred sixty-three million nine hundred thirty-eight thousand 00/100 Bolivianos) from the BCB for the execution of the "Southern Thermoelectric Plant Project" and in its Article 8 abrogates Ministerial Resolution No. 465-10 dated December 7, 2010.
//2. B.D. No. 098/2011 That the Monetary Operations Management has issued Report BCB-GOM-SOSP-DCE-INF-2011-9, which establishes the financial conditions of the credit requested by ENDE for the execution of the "Southern Thermoelectric Plant Project."
That in Report BCB-APEC-SSMF-INF-2011-02, it is recommended to the BCB Board to consider the provisions contained in Article 8 of Ministerial Resolution No. 316-11 of the Ministry of Hydrocarbons and Energy for the corresponding purposes.
That Report BCB-GAL-SANO-INF-2011-378 establishes that as a consequence of the repeal of Ministerial Resolution No. 465-10, the BCB Board must declare Board Resolution No. 012/2011 null and void.
That Law No. 1670 and the BCB Statute empower the Board of the Institution to issue norms and adopt general decisions that may be necessary for the BCB to fulfill the functions, competencies, and powers assigned by said Law.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Declare Board Resolution No. 012/2011 of January 18, 2011, null and void.
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, August 10, 2011
Marcelo Zabalaga Estrada
Hugo Dorado Araníbar Gustavo Blacutt Alcalá Rafael Boyán Téllez
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