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Bolivia (BOX) SDDS Bolivia (BOX) SDDS - DQAF View Category: Balance of payments SDDSKey Help on Document Navigation: To show navigation tree in the side pane, select the menu: View -> Documentmap Click here to complete Contact Person(s) information Click here to go to Table of Contents H.Header data H.0.7 Data category notes [Data category notes] Balance of payments 0. Prerequisites 0.1 Legal environment 0.1.1 Responsibility for collecting, processing, and disseminating statistics [Laws and administrative arrangements specifying the responsibility for collecting, processing, and disseminating statistics] Provisions authorizing the BCB to request information: Political Constitution of Bolivia (2009), Article 298, the state must have to compiling official statics. Political Constitution of Bolivia (2009), Article 328, the central bank has to implement exchange rate‟s politics. Law 1670, Article 20: The BCB shall issue regulations governing financial operations with other countries, carried out by individuals and by public or private entities. Law 1670, Article 21: The BCB shall keep a register of public and private external debt. Law 1670, Article 40: The Superintendence of Banks and Financial Institutions (now The Financial Supervisory Authority) shall submit to the BCB all periodic information that it receives from banks and other financial system institutions. At the request of the President of the BCB, the Superintendent shall provide the latter with detailed information on the financial and net worth position of a given financial institution, including any inspection reports that may have been prepared concerning it. Banks and other institutions providing financial intermediation services shall forward directly to the BCB any monetary information requested by the latter and shall report on their creditor position, as well as any other information directly requested by the President of the BCB on an institution's financial position. Resolution N°119/2008 y N°22/2009 at the Central Bank allows to capture information on Foreign Private Capital and international services Inter-Institutional Agreement of Jul 5, 2010 between the BCB, the Office of the Deputy Minister of Tourism, and the National Statistics Institute to collect information on inward and outward tourism expenditure. The BCB's budget includes an annual appropriation for the agreement The actual Law 1670/95 does not include any specify regulation establishing that the BCB is responsible for compiling and disseminating balance of payments data. However, the BCB is publicly recognized as the sole institution with these responsibilities‟ and has disseminated balance of payments statistics since 1938. Processing: Governors of the BCB resolutions N°119/2008 y N°22/2009 of the Central Bank allow capturing information on Foreign Private Capital and international services. Supervisory Authority of the Financial System (ASFI): Circular N°1515/2011 and 1856/2011 requires Intermediary Entities and Intermediary Entities in adaptation process to send information of remittances to the BCB. Release of information: Law 1670, Article 41: The BCB, as an Institution of the Executive, will periodically, and when requested, inform the President of the country on changes in the monetary, credit, and banking situation of the country, as well as the results of policy initiatives and the positions and recommendations that will be taken in their next policy discussions. Law 1670, Article 42: Within the first 120 days of each year, the BCB shall submit to the President of the Republic, the pertinent committees of the legislature, and the General Accounting Office of the Republic, the institution's Annual Report for the preceding financial year, which shall include the results of implementing its policies and its financial statements. It shall at the same time publish in a national newspaper a summary of said statements. Law 1670, Article 43: The BCB shall periodically publish statistical and economic information on the economic and financial variables within its area of competence The Central Bank‟s shall timely compile and publish the main macroeconomic statistics, including those of a monetary and foreign exchange character, balance of payments. A catalogue of published information is available on the Bank‟s website, at „Statistics” http://www.bcb.gob.bo/?q=estadisticas/semanales There are no restrictions on the dissemination of these data. http://www.bcb.gob.bo/index.php?q=indicadores/cotizaciones 0.1.2 Data sharing and coordination among data producing agencies [Data sharing and coordination among data producing agencies are adequate.] The BCB subscribe agreements with INE and other institutions to surveys (Tourism, travel, etc.). The BCB receives and distributes information to institutions like INE, UDAPE, MEFP 0.1.3 Confidentiality of individual reporters' data [Measures ensuring individual reporters’ data are kept confidential and used for statistical purposes only.] Political Constitution of Bolivia (2009), Article 237, the public employees have treated with strict confidentiality information when finished their functions. Political Constitution of Bolivia (2009), Article 333, the finance transactions by natural and juridical persons has the right to confidentiality except court proceedings The Commercial Code, in Article 1307, establishes that “The banking and credit institutions will treat with strict confidentiality information about their operations and information they receive from their clients.” The banks cannot release individual banking information except to holders of the accounts or their legal agents.” Law 1670, Article 80: The management, staff, and employees of the BCB shall treat as confidential the affairs and operations of the BCB, financial institutions and their operations, as well as any documents or reports related to the latter of which they may have knowledge as a result of performing their duties. Any manager, staff member, or employee of the BCB who uses any information which is confidential, the property of the BCB or of the financial intermediation system for his/her own benefit and to the detriment of the nation, the BCB, or third parties shall be held liable therefor. Said obligations and liability shall continue even beyond their resignation or separation from the BCB. Any manager, staff member, or employee who violates this prohibition shall be dismissed from his/her position, without prejudice to any applicable civil or criminal liability. In the event of resignation or separation from the BCB, the penalties provided by law shall be applied. The above provision shall not apply to periodic publications concerning any monetary, exchange, or credit operations of the BCB, which, for general information purposes, are issued by the BCB. Moreover, said provision shall not apply to any administrative information of the BCB nor to any statements requested by competent courts in the course of legal proceedings. 0.1.4 Ensuring statistical reporting [Legal mandates and/or measures to require or encourage statistical reporting.] According to Board Resolution 22/2009 Article 5 "Private entities and individuals, must submit to the Economic Policy Advisory BCB information about assets and foreign liabilities and other variables .... for the previous quarter specifying the type of instrument, until the first half of the next quarter, on the forms provided ... " Political Constitution of Bolivia (2009), Article 298, the state must have to compiling official statics. 0.2 Resources 0.2.1 Staff, facilities, computing resources, and financing [Staff, facilities, computing resources, and financing for statistical programs currently available as well as what would be required for programmed statistical outputs.] The Balance of Payments department has 13 officers, each with the appropriate physical and information infrastructure. Financing for surveys (Tourism, Travel and CPE) In 2014 there will be a better system for the collection, processing and analysis of statistical data. 0.2.2 Ensuring efficient use of resources [Measures implemented to ensure efficient use of resources.] The Law on the Charter of the Bank authorizes the central bank to request information from financial intermediaries. Periodic reviews of staff performance are conducted; Budgeting procedures are used to help allocate resources; Efficiencies are sought through periodic reviews of work processes, e.g., seeking cost effectiveness of survey design in relation to objectives, and encouraging consistent concepts, classification and other methodologies across datasets. The information is discussed at Reserve‟s Committee, Monetary and Exchange Policy‟s Committee. 0.3 Relevance 0.3.1 Monitoring user requirements [How the relevance and practical utility of existing statistics in meeting users’ needs are monitored.] We applied a survey of use the statics, analysis and economic events. http://www.bcb.gob.bo/?q=ENCUESTA%20BCB Data users are consulted and kept informed on specific aspects of current data. On the BCB website, users of information can direct inquiries and concerns to the area responsible for generating the data. Methodological notes on subjects of common interest are published in the “Definitions for the weekly statistics” (http://www.bcb.gob.bo/?q=publicaciones/educativas&cbo2=-1&cbo3=0) and External Bulletin http://www.bcb.gob.bo/webdocs/publicaciones/externo%20diciembre%202012/externodic12.pdf The BCB staff participates as lecturers in courses given by recognized national universities and at meetings and seminars
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