Resolution 123/2010 Approving the Regulation for the Registration of Bolivia's Public External Debt

BOARD RESOLUTION NO. 123/2010 SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – APPROVES THE REGULATION FOR THE REGISTRATION OF BOLIVIA'S PUBLIC EXTERNAL DEBT.

HAVING REVIEWED: The Political Constitution of the State. Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB). The Statute of the Central Bank of Bolivia approved by Board Resolution No. 128/2005 of October 21, 2005, and its modifications. Board Resolution No. 118/2008 of October 7, 2008, which approves the Regulation for the registration of Bolivia's public external debt. The Report from the International Operations Management BCB-GOI-INF-2010-13 of November 4, 2010. The Reports from the Legal Affairs Management BCB-GAL-SANO-INF-2010-352 of November 5, 2010 and BCB-GAL-SANO-INF-2010-361 of November 9, 2010.

CONSIDERING: That Law 1670 in its articles 20, 21, and 29 establishes the functions that the Central Bank of Bolivia must fulfill regarding Bolivia's external debt. That the BCB Statute in its article 11 numeral 25 determines that the Board will approve regulations regarding the registration of public debt. That the International Operations Management in its Report BCB-GOI-INF-2010-13 recommends modifying the current Regulation for the registration of public external debt. That the Reports from the Legal Affairs Management BCB-GAL-SANO-INF-2010-352 and BCB-GAL-SANO-INF-2010-361 state that there is no legal impediment for the BCB Board, in the exercise of its powers conferred by Law No. 1670 and the Statute of the Central Bank of Bolivia, to consider the approval of the new Regulation for the Registration of Bolivia's Public External Debt. That by virtue of what is provided by Law No. 1670 article 54 clause o) and the Statute of the Central Bank of Bolivia in its article 11 numeral 29, the Board is authorized to approve, modify, and interpret the BCB regulations by two-thirds of the votes of all its members, without the need for any additional administrative act.

THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES: Article 1.- Approve the Regulation for the Registration of Bolivia's Public External Debt, which is attached and forms an integral part of this Resolution. Article 2.- This Regulation shall enter into force from its approval. Article 3.- Repeal Board Resolution No. 118/2008 of October 7, 2008. Article 4.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, November 9, 2010

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Gabriel Loza Tellería

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Gustavo Blacutt Alcalá Hugo Dorado Araníbar

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Rolando Marín Ibáñez Ernesto Yáñez Aguilar Rafael Boyán Téllez

//2. B.D. No. 123/2010 ANNEX REGULATION FOR THE REGISTRATION OF BOLIVIA'S PUBLIC EXTERNAL DEBT

CHAPTER I GENERAL PROVISIONS

Article 1.- Object This Regulation aims to establish the norms and procedures by which the Central Bank of Bolivia (BCB) will carry out the official registration of Bolivia's public external debt, the payment of public external debt service, and the publication of the country's external debt statistics.

Article 2.- BCB Attributes Subject to what is provided in articles 20, 21, and 29 of Law 1670 of October 31, 1995, the BCB is the institution responsible for maintaining the registry of Bolivia's public external indebtedness.

Article 3.- Responsible Management The International Operations Management of the BCB is charged with the administration of this Regulation, and must report semi-annually to the Board on the status and registration of public external debt.

CHAPTER II PUBLIC EXTERNAL DEBT

Article 4.- Report of new external borrowing The BCB will require the Ministries of Development Planning and of Economy and Public Finances to timely send copies of the loan contract signed with the external creditor and the subsidiary agreement signed with the public debtor or executing entity, as well as the legal provisions (Law and Supreme Decree) authorizing such external borrowing, to the International Operations Management of the BCB.

Article 5.- Registration of external debt The BCB will monitor new external borrowing contracted, assign a control number to each credit, and register it in the Debt Management and Analysis System (SIGADE).

//4. B.D. No. 123/2010 At the request of public debtor or executing entities, the BCB will issue a certification of the credit registration.

Article 6.- Obtaining information from external creditors The BCB will request all external creditors to send statements and settlements of debt service, with a notice of no less than 30 days prior to each due date, and will proceed to verify the amounts to be paid.

Article 7.- Notification to debtors On a monthly basis and with a minimum advance of seven days prior to the due date, the BCB will notify public debtor institutions of the details of their obligations, requiring the timely deposit of funds for payment to the creditor.

Article 8.- Payment of debt service The BCB will effect the payment of public external debt service once the public debtor entity proceeds with the respective fund coverage. When stipulated in the corresponding contracts, the BCB will directly debit from the debtor entity's accounts the funds necessary to effect the payment of the obligation.

Article 9.- Direct payments Institutions that make direct payment of their external obligations must report this information to the BCB on the date of the fund transfer abroad.

Article 10.- Report of information on disbursements Public debtor or executing entities must remit to the BCB information on direct disbursements received from external creditors, up to 5 business days after the disbursement is made.

Article 11.- Balance reconciliation The BCB will semi-annually reconcile the balances owed and disbursements received from external credits with the public sector debtor and executing entities, and must sign the corresponding Minutes. These Minutes will be sent by the BCB by the 20th day of the following month, and must be signed by the debtor and executing entities within 15 business days of receiving said Minutes.

//5. B.D. No. 123/2010 Article 12.- Commissions The BCB will charge the debtor the commissions established annually in the Table of Commissions for BCB services.

CHAPTER III OFFICIAL STATISTICAL INFORMATION ON BOLIVIA'S EXTERNAL DEBT

Article 13.- Generation of external debt statistics The International Operations Management of the BCB will administer the Debt Management and Analysis System (SIGADE), periodically generating the official statistical information on the country's public external debt.

Article 14.- External debt statements The BCB will send monthly to the Ministries of Economy and Public Finances and Development Planning, summaries of the External Debt Statements of the country by the 10th day of the following month.

Article 15.- Request for information At the request of a debtor or executing entity, the BCB will provide updated statistical information on the external debt of said entity.

Article 16.- Dissemination of external debt information The BCB will timely publish information on Bolivia's External Debt on its website and in its Annual Report.

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