Catalog
0,50 Austral
| Issuer | Provincia de La Rioja |
|---|---|
| Year | 1986 |
| Type | Local banknote |
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| Reverse description | The reverse is printed in violet on white paper and contains a lengthy legal text in Spanish constituting the full text of Ley 4534, the provincial debt cancellation bond law, arranged in justified columns across the entire face of the note. The denomination '0,50' appears at upper left, with 'PROVINCIA DE LA RIOJA - BONO CANCELACION DE DEUDA - LEY 4534' as the heading, and a vertical 'Cincuenta Centavos' legend along the right margin. |
| Reverse lettering | PROVINCIA DE LA RIOJA - BONO CANCELACION DE DEUDA - LEY 4534 0,50 Cincuenta Centavos LA CAMARA DE DIPUTADOS DE LA PROVINCIA, SANCIONA CON FUERZA DE LEY: |
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| Comments |
La Rioja issued this fractional note during the acute fiscal disarray of Argentina's mid-1980s, when several provinces resorted to quasi-currency to meet payroll and local obligations that the federal government could not adequately fund. The national Austral itself had only been introduced in June 1985 as a stabilization measure following the Austral Plan — replacing the Peso Argentino at 1,000:1 — so a provincially issued half-Austral note speaks to how quickly that optimism unraveled at the subnational level.
Casa de Moneda handled the printing, which gave the note a degree of technical legitimacy despite its emergency origins. Provincial scrip of this period was frequently redeemed at a discount, if at all.