Regulatory Alerts1997-07-29 | Resolución 133/97Added · Updated
Resolution 133/97
The Board of Directors of the Central Bank of Bolivia approves the offset of US$ 43,710,066.51 in fiscal credits against the external debt with Brazil and allocates the remaining net benefits of US$ 112,097,312.50 to cover development program losses and reduce foreign currency Treasury bills. The resolution authorizes the President of the Central Bank to sign a benefit transfer agreement with the National Treasury Secretariat and mandates the Presidency and General Management to execute the resolution.
BOARD RESOLUTION NO. 133/97 SUBJECT: INTERNATIONAL AFFAIRS - APPROVES DISTRIBUTION OF BENEFITS FROM THE RENEGOTIATION OF THE EXTERNAL DEBT OF THE BCB WITH BRAZIL AND SUBSCRIPTION OF AN AGREEMENT FOR THE TRANSFER OF BENEFITS WITH THE NATIONAL TREASURY SECRETARIAT.
HAVING SEEN: Law No. 1670 of October 31, 1995. Supreme Decree 23958 of February 17, 1995. Report SRDE No. 037/97 from the International Affairs Management dated July 28, 1997. Report UAJUR No. 054/97 from the Legal Affairs Unit dated July 28, 1997.
CONSIDERING: That Supreme Decree 23958 authorizes the National Treasury Secretariat to establish the conditions under which the benefits of external debt negotiations will be transferred to public sector institutions.
That Report SRDE No. 037/97 from the International Affairs Management recommends approving the compensation and distribution of the benefits from the renegotiation of the external debt of the Central Bank of Bolivia with Brazil, previously agreed upon with the National Treasury Secretariat.
That according to Report UAJUR No. 278/97 from the Legal Affairs Unit, there is no legal impediment and the Board is empowered to approve this distribution of benefits and authorize the signing of the Agreement with the National Treasury Secretariat by the President of the Institution.
//2. B.D. No. 133/97
Therefore,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Approve the offset of the asset amounting to US$ 43,710,066.51 corresponding to the fiscal credits granted by the BCB to the TGN, with US$ 43,710,066.51 of the total liability of the Issuing Institution related to the debt with Brazil, which amounts to US$ 155,807,379.01.
Article 2.- Approve the allocation of the balance amounting to US$ 112,097,312.50, which represents the net benefits from the negotiation of the external debt of the BCB with Brazil, in the following manner: a) Losses from Development Programs amounting to US$ 72,097,312.50.- b) Reduction of Treasury Bills "A" in foreign currency amounting to US$ 10,000,000.- c) Reduction of Treasury Bills "B" in foreign currency amounting to US$ 30,000,000.-
Article 3.- Authorize the President of the BCB to sign with the National Treasury Secretariat the Agreement for the transfer of benefits from the external debt of the Central Bank of Bolivia with Brazil.
Article 4.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
29.VII.97
____________________ Juan Antonio Morales A.
Armando Pinell S. Jaime Ponce G. Juan Medinacelli V.
Fernando Campero P. Edgar Millares A.
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