PROVINCIA DE JUJUY - TITULO PUBLICO AL PORTADOR Decreto No 4434 - 89 Articulo 1: ...
(Translation: Province of Jujuy - Bearer public bond Decree 4434 - 89 Article 1: ...)
Argentina's provinces issued their own emergency currency — called "bonos" or "australes provinciales" — during the hyperinflationary crisis of 1989, when the national Austral was collapsing and the federal government could not maintain adequate liquidity to pay provincial employees and suppliers. Jujuy was among the provinces forced into this arrangement, producing notes that circulated alongside national currency by administrative necessity rather than any formal monetary authority.
Provincial issues from this period are frequently found in poor condition; they circulated hard and fast in a cash-starved economy where even degraded paper was accepted out of desperation.
Argentina's provinces issued their own emergency currency — called "bonos" or "australes provinciales" — during the hyperinflationary crisis of 1989, when the national Austral was collapsing and the federal government could not maintain adequate liquidity to pay provincial employees and suppliers. Jujuy was among the provinces forced into this arrangement, producing notes that circulated alongside national currency by administrative necessity rather than any formal monetary authority.
Provincial issues from this period are frequently found in poor condition; they circulated hard and fast in a cash-starved economy where even degraded paper was accepted out of desperation.