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1 Peso
| Issuer | Provincia de Córdoba |
|---|---|
| Year | 2001 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE CÓRDOBA REPÚBLICA ARGENTINA LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA) AL PORTADOR UN PESO VALOR NOMINAL VENCIMIENTO 31 DE OCTUBRE DE 2004 MINISTRO DE FINANZAS SECRETARIO DE ADMINISTRACIÓN FINANCIERA |
| Reverse description | Log in to see details |
| Reverse lettering | LECOP CÓRDOBA (Decreto N° 2003/01) Artículo 1°: CRÉANSE las letras de cancelación de obligaciones provinciales como instrumentos de pago legalmente previstos para la extinción de las obligaciones de cualquier naturaleza del sector público provincial. Artículo 2°: LOS instrumentos de pago creados por el artículo anterior se denominarán LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA). Artículo 3°: LOS pagos efectuados a los acreedores mediante la entrega de los LECOP CÓRDOBA importará la extinción irrevocable de los créditos por cuya causa se formalizó la entrega. Artículo 8°: LAS LECOP CÓRDOBA se emitirán (...) a treinta y seis (36) meses de plazo y devengarán un interés anual del siete por ciento (7%). El total del capital se amortizará al vencimiento del plazo señalado. El pago de los intereses se efectuará en cuatro (4) cuotas trimestrales, con veintiuno - la primera de ellas - a los veintiún (21) meses de la fecha de emisión. |
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| Comments |
Argentina's provincial quasi-currencies — the so-called "patacones" and their regional equivalents — emerged in 2001 as provincial governments, cut off from federal transfers during the convertibility crisis, began issuing their own debt instruments to pay salaries and suppliers. Córdoba's version, the LECOP-adjacent provincial bond note, circulated alongside federal currency at par by informal convention rather than legal decree, accepted grudgingly by supermarkets and utilities under political pressure.
The PS#0 reference indicates this hasn't yet been formally catalogued in the Pick Specialized series — attribution and variety differentiation for the 2001 Argentine provincial emissions remain genuinely unsettled among specialists.