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100 Pesos
| Issuer | Provincia de Río Negro |
|---|---|
| Year | 1995-1996 |
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| Printer | Casa de Moneda |
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| Reverse description | The reverse is typeset in black on white stock and carries multiple articles of the enabling legislation in full, arranged in dense columns of text. The official title 'CERTIFICADOS DE DEUDA DE LA PROVINCIA DE RIO NEGRO' heads the text block, with Articles 1 through 6 detailing the authorisation, redemption schedule, interest rate tables expressed in percentage tiers, and regulatory provisions governing these debt certificates. A small ornamental vignette appears at the lower left. |
| Reverse lettering | CERTIFICADOS DE DEUDA DE LA PROVINCIA DE RIO NEGRO Artículo 1°.- Autorízase al Poder Ejecutivo a disponer la emisión de 'Certificados de Deuda de la Provincia de Río Negro' (CEDERN) para ser aplicados al pago total o parcial de las obligaciones del sector público provincial, comprendidas a la Constitución Provincial y Decretos Autorizantes. Dichos bonos serán cancelados con participación del Estado y los restantes Poderes del Estado, hasta la suma de pesos cien millones ($ 100.000.000). Artículo 2°.- ... Artículo 6°.-... (Translation: DEBT CERTIFICATES OF THE PROVINCE OF RIO NEGRO Article 1.- The Executive Branch is authorised to issue 'Debt Certificates of the Province of Río Negro' (CEDERN) to be applied to total or partial payment of provincial public sector obligations... Article 2.- ... Article 6.- ...) |
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| Comments |
Río Negro was one of several Argentine provinces that issued quasi-money during the 1990s under the Convertibility Plan — a legally peculiar situation in which provinces, barred from running deficits in the conventional sense, resorted to printing their own circulating bonds to pay salaries and suppliers. These instruments were nominally redeemable at par with the peso but traded at discounts in practice. The Casa de Moneda printing attribution is consistent with several provincial emissions of this period, lending them a surface credibility that the underlying fiscal reality did not always support.