Resolution 137/2003 — BCB — BO

BOARD RESOLUTION NO. 137/2003

SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES CREDIT GRANT TO THE GENERAL TREASURY OF THE NATION TO MEET TRANSITORY LIQUIDITY NEEDS OF Bs400,000,000.

HAVING SEEN:

Law 1670 of October 31, 1995.

Board Resolution No. 160/97 of October 21, 1997, which approves the Regulations for Credits to the Public Sector.

Board Resolution No. 121/2001 of November 29, 2001, which modifies Article 10 of Board Resolution No. 160/97 regarding the Financial Conditions of Credits to the Public Sector.

The note from the Ministry of Finance D.G.C.P. 05-016 D.D.I. OF. No. 2488/03 of November 28, 2003.

The Report from the Monetary Operations Management SOSP 028/2003 of December 3, 2003.

The Report from the Economic Policy Advisory APEC-SMyF-.../2003 of .... of December 2003.

The Report from the Legal Affairs Management SANO No. 232/2003 of December 2, 2003.

CONSIDERING:

That the Ministry of Finance, through note D.G.C.P. 05-016 D.D.I. OF. No. 2488/03, has requested the granting of a credit of Bs400,000,000 to meet transitory liquidity needs.

That the Monetary Operations Management, in accordance with Article 5 of the Regulations for Credits to the Public Sector, has issued Report SOSP 028/2003, which recommends considering the credit conditions 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-.../2003, states that this credit falls within the Monetary Program.

That the Legal Affairs Management in its Report SANO No. 232/2003, states that the authorized amounts must be within the limits of the monetary program, that the credit be documented with negotiable instruments, that the term not exceed one year, and that the Ministry of Finance comply with the requirements established by Law 1670.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Approve the granting of the credit to the Ministry of Finance for the attention of transitory liquidity needs, under the following conditions:

Amount: Bs400,000,000.
Interest Rate: ......
Term: 18 days.
Disbursement Date: December 8, 2003.
Maturity Date: December 26, 2003.
Guarantee Instrument: Treasury Letters “C”.
Disbursement Method: In accounts of the General Treasury of the Nation, according to written request.
Payment Method: Interest and principal, through automatic debit in the current fiscal accounts held by the General Treasury of the Nation 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 total or partial early cancellation of the Credit, considering the interest accrued on the total Credit up to the date of early cancellation.

Article 4.- Any rescheduling of financing from the BCB to the General Treasury of the Nation 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.

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

La Paz, December 4, 2003.

Juan Antonio Morales A.

Juan Medinaceli V. Enrique Ackermann A.

José Luis Evia V. Fernando Paz B.

Jaime Apt B.