Resolution 145/2003 — BCB — BO

BOARD RESOLUTION NO. 145/2003
SUBJECT: MONETARY OPERATIONS MANAGEMENT –
APPROVES RENEWAL OF A CREDIT TO THE
GENERAL TREASURY OF THE NATION TO
MEET TEMPORARY LIQUIDITY NEEDS.

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. Board Resolution No. 106/2003 of September 30, 2003. The Memorandum of Understanding signed between the Central Bank of Bolivia (BCB) and the Ministry of Finance on December 4, 2003. The note from the Ministry of Finance D.G.C.P. 05-016 D.D.I. OF. No. 2575/03 of December 4, 2003. The Report from the Monetary Operations Management SOSP 030/2003 of December 12, 2003. The Report from the Economic Policy Advisory APEC/SMyF-043/2003 of December 12, 2003. The Report from the Legal Affairs Management SANO/243/2003 of December 9, 2003.

CONSIDERING:
That the Ministry of Finance, through note D.G.C.P. 05-016 D.D.I. OF. No. 2575/03, has requested the renewal of a credit for Bs100,000,000 to meet temporary liquidity needs.

//2. R.D. No. 145/2003

That the Monetary Operations Management, in accordance with Article 5 of the Regulations for Credits to the Public Sector, has issued Report SOSP 030/2003, 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-043/2003, states that this credit falls within the Monetary Program.

That the Legal Affairs Management in its Report SANO/243/2003, states that the authorized amounts must be within the limits of the monetary program, that the credit be documented with securities, that the term does not exceed one year, and that the Ministry of Finance complies with the requirements established by Law No. 1670.

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: Bs100,000,000.-
Interest Rate: 8.20%.
Term: 88 days.
Renewal Date: January 2, 2004.
Maturity Date: March 30, 2004.
Guarantee Instrument: Treasury Letters “C”.
Payment Method: Interest and principal, via automatic debit in the fiscal current 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 make early total or partial cancellation of the Credit, considering the accrued interest on the total Credit up to the date of early cancellation.

//3. R.D. No. 144/2003

Article 4.- Any reprogramming of BCB financing to the General Treasury of the Nation must be compatible with the limits established in the Memorandum of Understanding signed between the BCB and the Ministry of Finance on December 4, 2003.

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

La Paz, December 16, 2003.

Juan Antonio Morales A.

Juan Medinaceli V. Enrique Ackermann A.

José Luis Evia V. Fernando Paz B.

Jaime Apt B.