Regulatory Alerts2003-12-17 | Resolución 150/2003Added · Updated
Resolution 150/2003 - Extension of Deadline for FONDESIF to Present Proposal for Cancellation of Obligations with BCB and Forgiveness of Penal Interest
Resolution 150/2003 grants the Fondo de Desarrollo del Sistema Financiero y Apoyo al Sector Productivo (FONDESIF) an additional 180-day period, starting December 29, 2003, to submit a proposal for the restructuring of its loans from the Central Bank of Bolivia (BCB) and the IDA Line 1925/BO. The resolution accepts FONDESIF's proposal to cancel accrued interest totaling $316,621.57 and pay administrative costs of $63,656.96, while forgiving penal interest of $1,556,350.73 accrued between March 29 and December 30, 2003. The BCB President is authorized to sign necessary contract addenda, and the Ministry of Finance is instructed to participate in the restructuring process to resolve payment methods and fiduciary obligations.
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