Resolution 133/2003 — BCB — BO

BOARD RESOLUTION NO. 133/2003
SUBJECT: MONETARY OPERATIONS MANAGEMENT – RENEWAL OF THE CREDIT TO THE GENERAL TREASURY OF THE NATION TO MEET TEMPORARY LIQUIDITY NEEDS FOR Bs300,000,000.-.

HAVING SEEN:
Law 1670 of October 31, 1995.
Board Resolution No. 160/97 of October 21, 1997, which approves the Regulations on Credits to the Public Sector.
Board Resolution No. 121/2001 of November 29, 2001.
Board Resolution No. 095/2003 of August 26, 2003.
Private Contract SANO No. 173/2003 of August 27, 2003.
Addendum SANO No. 094/2003 of April 17, 2003.
The note from the Ministry of Finance D.G.C.P. 05-016 DDI. OF. No. 2226/03 of October 27, 2003.
The Report from the Monetary Operations Management SOSP 026/2003 of November 14, 2003.
The Report from the Economic Policy Advisory APEC/SMyF 037/2003 of November 18, 2003.
The Report from the Legal Affairs Management SANO No. 204/2003 of October 30, 2003.

CONSIDERING:
That the Ministry of Finance, through note D.G.C.P. 05-016 DDI. OF. No. 2226/03, has requested the renewal of the credit of Bs300,000,000.- to meet temporary liquidity needs. That the Monetary Operations Management, in accordance with Article 5 of the Regulations on Credits to the Public Sector, has issued report SOSP 026/2003 recommending that the conditions of the credit be considered once the Ministry of Finance complies with the requirements established for the renewal of the aforementioned loan. That the Economic Policy Advisory, in its Report APEC/SMyF 037/2003, states that this credit falls within the Monetary Program. That the Legal Affairs Management, in its Report SANO No. 204/2003, states that the request presented by the Ministry of Finance meets the requirements demanded by the BCB and that, therefore, the Board of Directors of the BCB is legally authorized to consider the renewal of the credit.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Approve the first renewal of the credit to the Ministry of Finance for the attention of temporary liquidity needs, under the following conditions:
Amount: Bs300,000,000.-.
Interest Rate: 7.70%
Term: 90 days.
Renewal Date: November 25, 2003.
Maturity Date: February 23, 2004.
Guarantee Instrument: Treasury Bills C in national currency.
Payment Method: Interest and principal, through automatic debit in the fiscal checking accounts that the General Treasury of the Nation maintains at the Central Bank of Bolivia.

Article 2.- Authorize the President of the Central Bank of Bolivia to sign the respective contract with the Ministry of Finance.

Article 3.- The General Treasury of the Nation may effect early cancellation, total or partial, of the credit considering the accrued interest on the total credit up to the date of early cancellation.

Article 4.- Any reprogramming of BCB financing to the TGN must be compatible with the quarterly limits agreed upon for the Net Credit of the BCB to the Non-Financial Public Sector in the Stand By Agreement with the IMF, corresponding to the 2003 management period.

Article 5.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, November 18, 2003.

Juan Medinaceli V.

Enrique Ackermann A. José Luis Evia V

Fernando Paz B. Jaime Apt B.