Bolivia’s government published Decreto Supremo 5747 (DS 5747) on 14 October 2026, making the M-03, the single export form issued by the mineral-trade registry SENARECOM, conditional on repatriated foreign currency. A gold exporter obtains the form once it shows that foreign currency equal to 80% of the computable value (valor computable) of its earlier gold exports has been credited to its own account at a financial intermediation entity supervised by ASFI, the financial-system regulator. DS 5747 abrogates Decreto Supremo 5076 (DS 5076) of 29 November 2023 and voids the obligation of the Central Bank of Bolivia (BCB) to buy metal, together with the enforceability of gold sales, under the Gold Export Certificates issued within that framework.
Under DS 5076, the BCB’s board set a periodic export quota and the conditions for each certificate, issuance depended on a check of the gold needed to replenish reserves, and Bolivia’s customs service, the Aduana Nacional, required a valid certificate to clear every export. Under DS 5747, the Aduana Nacional no longer asks for the certificate, the M-03 remains required, and SENARECOM reports monthly to the Ministry of Economy and Public Finance and the BCB on gold exports, forms issued and the cumulative accreditation account of each exporter.
Three routes to the M-03 run side by side as the regime starts: an exporter with a valid BCB certificate obtains forms until the certificate expires, an exporter without one may make a first export with no accreditation, and every export after that requires the 80% to be shown. An M-03 issued in this period can therefore rest on no accreditation at all, and a copy of the form in a buyer’s supplier file does not by itself show that earlier proceeds reached Bolivia. Once the start-up routes are used, the currency has to be credited to the exporter’s own account at an ASFI-supervised entity, which makes the payment route in a purchase contract — beneficiary, account and bank — part of the exporter’s standing for its next M-03. Incoterms 2020 assign export clearance to the seller under every rule except EXW, which puts the M-03, and the accreditation record behind it, on the seller’s side of the contract. Under a contract for several shipments, each M-03 then depends on currency from the earlier shipments being credited in Bolivia.
DS 5747 fixes the 80% condition and the reporting duties. The BCB and SENARECOM have 15 business days from publication to issue the implementing rules, and the Ministry of Economy and Public Finance may change the percentage by ministerial resolution and reviews the effect on registered exports and currency inflows each quarter.