The Central Bank of Bolivia issued a clarification in response to reports about foreign payments by public entities, stating that as the government’s financial agent it only executes transfer instructions and has no competence to define the use or destination of those resources. It pointed to the Constitution and Articles 28 and 29 of Law No 1670 as the basis for its role, and emphasised that the top executive authority of each public institution is responsible for the use, administration and results of public funds. Under the procedure for outward fund transfers approved by ministerial resolution, the Ministry of Economy and Public Finance manages the process, and once budget and payment resources are allocated the request is sent to the central bank to execute the transfer. The central bank’s role is limited to operationalising instructions and it does not take part in negotiations or in determining the characteristics and conditions of the underlying contracts.
Central Bank of Bolivia 2025-09-22
Central Bank of Bolivia clarifies it has no authority to decide the purpose of public sector payments made abroad
The Central Bank of Bolivia clarified its role in foreign payments by public entities, emphasizing it only executes transfer instructions as the government's financial agent. The Ministry of Economy and Public Finance manages the process, while each public institution's executive authority is responsible for fund use and administration. The bank's role is strictly operational, without involvement in contract negotiations or defining resource destinations.