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100 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| Shape | Rectangular |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse is printed entirely in black letterpress and presents the full legal text of the CECACOR instrument, citing Decreto-Ley N° 1/99 and Decretos 34/00, 114/01, 134/01, and 776/01. The text comprises Articles 28°, 29°, 31°, and 32°, setting out the authorisation, issuance conditions, irrevocability, and redemption procedures for the obligation certificates. A decorative orange floral vignette occupies the lower right corner as the sole graphic element. |
| Reverse lettering | CERTIFICADOS DE CANCELACIÓN DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR) DECRETO - LEY N° 1/99, 34/00, 114/01 Y 134/01; DECRETO N° 776/01 Artículo 28° Artículo 29° Artículo 31° Artículo 32° |
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| Comments |
Corrientes issued its own quasi-currency in 2001 as a direct response to provincial insolvency — unable to meet public sector payroll and facing a federal government that had its own liquidity crisis, the province began circulating interest-bearing bonds denominated in pesos that functioned in practice as money. These "Cecacor" instruments circulated alongside, and often in place of, federal currency throughout the province.
The 2001 Argentine collapse made provincial quasi-monies like this one genuinely necessary rather than merely expedient. Corrientes was not alone — Patacones, Lecops, and at least a dozen other provincial scrips appeared that year — but Corrientes had a longer history of fiscal dysfunction than most, having been placed under federal intervention repeatedly through the 1990s.
February 2001 predates the full national collapse by nearly a year, which places this note at the early edge of the crisis.