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10 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2002 |
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| Reference(s) | P#S0 |
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|---|---|
| Obverse lettering | PROVINCIA DEL CHACO CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO" AL PORTADOR LEY N° 4951/01 - DECRETO N° 231/02 FECHA DE EMISION: 3 DE ABRIL DE 2002 FECHA DE VENCIMIENTO INTERES 1° CUOTA: 3 DE ABRIL DE 2003 TASA DE INTERES: 8% ANUAL FECHA DE VENCIMIENTO CAPITAL E INTERES 2° CUOTA: 3 DE OCTUBRE DE 2004 DIEZ PESOS MANUEL OBLIGADO TESORERO GENERAL MINISTRO DE ECONOMIA OBRAS Y SERVICIOS PUBLICOS CASA DE MONEDA SERIE 3 |
| Reverse description | The reverse carries the full legal text of the Certificados de Cancelación de Obligaciones de la Provincia del Chaco 'Quebracho', printed in black on cream paper, comprising articles 4, 6, 8, and 10 of the enabling legislation along with a reference to the modificatory Decreto N° 457/03. The denomination 10 PESOS appears at both upper right and lower left in bold numerals. At the foot of the note, issuance and maturity date information is printed in a structured tabular format, including the emission date and the schedules for interest and capital repayment. |
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| Comments |
The Provincia del Chaco issued this note in 2002 as part of Argentina's broader provincial quasi-currency crisis, when the federal government's convertibility regime collapsed and provinces — unable to meet payroll obligations in pesos — began printing their own emergency scrip. These notes, generically called "patacones" in Buenos Aires or given provincial names elsewhere, functioned as wage substitutes and were accepted by provincial tax authorities and some retailers, though private creditors had every reason to refuse them.
Chaco was among the poorer northern provinces and had almost no fiscal cushion when the crisis hit. Casa de Moneda's involvement lent the notes a physical credibility that crudely printed provincial scrip from other issuers lacked.