Former BCB manager charged over Bicentenary banknotes: loss exceeds $us 359,000
The Public Ministry charged the former Treasurer of the Central Bank of Bolivia over breach of duty and uneconomic conduct. Only 3.8% of one million commemorative banknotes were sold.
Former BCB manager charged over purchase of commemorative banknotes with poor market uptake
Bolivia's Public Ministry charged Sergio C.A., former Treasurer of the Central Bank of Bolivia (BCB), with breach of duty and uneconomic conduct, according to El Deber. The former official must appear at a precautionary hearing as part of judicial proceedings related to the acquisition of Bolivia's Bicentenary commemorative banknotes.
The investigation centres on the purchase and printing of one million commemorative banknotes, with printing costs exceeding $us 668,000. As of 31 May 2026, only 37,885 units had been marketed, equivalent to 3.8% of the total acquired.
The prosecutors argue that the quantity of banknotes acquired was determined without the necessary technical backing, resulting in poor marketing and a large non-rotating inventory. Consequently, 962,115 banknotes—96.2% of the quantity printed—remained stored in vaults at the BCB and Banco Unión.
The income from sales fell short of covering the printing cost. A bulletin from the Attorney General's Office (PGE) estimates the alleged economic damage at more than $us 359,000.
On 5 August 2025, then president Luis Arce and BCB president Edwin Rojas publicly presented the Bicentenary banknotes and coins. The banknotes were exclusively collectible, with no legal tender status, and were marketed at Bs 50 per unit. At the same event, commemorative coins were presented: a gold coin—at Bs 15,310—, a silver coin—at Bs 1,420—and a steel coin of Bs 2, the latter with legal tender status and exchangeable for an ordinary coin of the same value.
The investigative process, according to available information, covers only the banknotes; no information is provided on whether the commemorative coins are included in the investigation.
Sergio C.A. was detained on Tuesday and taken to the Public Ministry offices on Potosí Street. After giving a statement, he was formally notified of the charges and the prosecutors sent the file to the judge handling the case. The Attorney General's Office is intervening as a party to the proceedings, with support from the Vice-Ministry of Transparency. Former BCB president Edwin Rojas is also listed as a defendant in the same case.
Source: El Deber