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100 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001-2002 |
| Type | Local banknote |
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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° 1690/01 FECHA DE EMISIÓN: TASA DE INTERES 12 de Octubre de 2001 8% ANUAL FECHA DE VENCIMIENTO FECHA DE VENCIMIENTO INTERES 1° CUOTA: CAPITAL E INTERESES 2° CUOTA: 12 de OCTUBRE de 2002 12 de ABRIL 2003 CIEN PESOS (Translation: CHACO PROVINCE CERTIFICATES OF CANCELLATION OF OBLIGATIONS OF THE PROVINCE OF CHACO `QUEBRACHO` TO THE CARRIER LAW N ° 4951/01 - DECREE N ° 1690/01 ISSUE DATE: INTEREST RATE October 12, 2001 8% ANNUAL EXPIRATION DATE EXPIRATION DATE INTEREST 1st FEE: CAPITAL AND INTEREST 2nd FEE: OCTOBER 12, 2002 APRIL 12, 2003 ONE HUNDRED PESOS) |
| Reverse description | Log in to see details |
| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO `QUEBRACHO` LEY N° 4951/01 - DECRETO N° 1690/01.- Artículo 4: ... (Translation: CERTIFICATES OF CANCELLATION OF OBLIGATIONS FROM THE PROVINCE OF CHACO `QUEBRACHO` LAW N ° 4951/01 - DECREE N ° 1690/01.- Article 4: ...) |
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| Comments |
This is one of the provincial "quasi-currencies" issued across Argentina during the 2001–2002 convertibility crisis, when peso liquidity collapsed and provincial governments began paying salaries and obligations in their own interest-bearing bonds. Chaco, one of Argentina's poorest provinces, had neither the reserves nor the credit to hold out without issuing its own scrip. The notes circulated under practical compulsion — retailers accepted them because refusal meant no business at all.
Casa de Moneda printing lent these bonds a degree of physical credibility that many other provincial issues lacked. The federal government eventually forced a redemption program in 2003, and most were exchanged or destroyed.