Resolution 138/2011

BOARD RESOLUTION NO. 138/2011
SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs100 AND Bs50 BANKNOTES.

HAVING REVIEWED:
Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency. Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009. The Banknote Provision Contract of the “I” Series SANO No. 239/2008 of December 18 2008, signed between the BCB and Canadian Bank Note Limited. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2011-59 of October 19, 2011. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2011-378 of October 21 2011.

CONSIDERING:
That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and put circulation as legal tender, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises in an exclusive and non-delegable manner the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins. That in accordance with the Banknote Provision Contract of Series “I”, the Central Bank of Bolivia has received from Canadian Bank Note Limited, the stock of banknotes of said Series amounting to 467 million pieces with a value of Bs36,400,000,000.-.

//2. R.D. No. 138/2011

That it is an attribution of the Board according to article 54 subsection m) of Law No. 1670 and the numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material, establishes that it is the faculty of the Board of Directors of the BCB, the authorization of monetization of the monetary material based on the reports of the Monetary Operations Management (GOM) and of the Legal Affairs Management based on the issuance or storage requirements determined by the GOM. That Report BCB-GOM-STES-INF-2010-147 establishes that considering the estimates of the duration of the banknotes of Series “H”, it is necessary to monetize the banknotes of Series “I” of Bs100 and Bs50 delivered in the vault by the provider Canadian Bank Note Limited. That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF 2011-378 there is no legal impediment for the Board of Directors of the BCB, in attention to its powers and competencies, to approve the monetization of banknotes of Series “I” of the cuts of Bs100 and Bs50.

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

Article 1.- Authorize the monetization of banknotes of the denominations of Bs100.- and Bs50.-
according to the following detail:

DENOMINATION NUMBER OF PIECES VALUE IN Bs.
100.- 230,000,000 23,000,000,000.-
50.- 74,000,000 3,700,000,000.-
TOTAL 304,000,000 26,700,000,000.-

Article 2.- Designate Director Hugo Dorado to represent the Board
participate in the act of monetization of the cited material.

//3. R.D. No. 138/2011

Article 3.- The Presidency and General Management are charged with the execution and
compliance of this Resolution.

La Paz, October 25, 2011

---

Marcelo Zabalaga Estrada

_______________________ _______________________ Hugo Dorado Araníbar Rolando Marín Ibáñez _______________________ _______________________ Gustavo Blacutt Alcalá Rafael Boyán Téllez