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2 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
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| Reference(s) | P#S2393 |
| Obverse description | The obverse bears the heading PROVINCIA DE CORRIENTES in blue letterpress at top centre, below which the full title CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES — CECACOR appears in bold blue type. To the left, the denomination DOS PESOS is printed vertically in red, with the numeral 2 repeated at upper left and lower right; the Argentine national coat of arms is printed as a blue intaglio vignette to the right. Issuance and maturity data fields — FECHA DE EMISION 01/08/2000 and VENCIMIENTO 31/01/2002 — are set in the central panel, with two manuscript signatures above the titles MINISTRO DE HACIENDA Y FINANZAS and INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES. |
|---|---|
| Obverse lettering | PROVINCIA DE CORRIENTES CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES CECACOR DECRETO - LEY Nº 1/99 AL PORTADOR FECHA DE EMISION: 01/08/2000 AMORTIZACION DE CAPITAL E INTERESES VENCIMIENTO: 31/01/2002 MINISTRO DE HACIENDA Y FINANZAS INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES SERIE B DOS PESOS 2 |
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| Comments |
Corrientes issued its own provincial currency in the late 1990s and early 2000s — a direct consequence of the Argentine federal government's fiscal squeeze on the provinces under the Convertibility regime. These notes, called "Cecacor" (Certificados de Cancelación de Deudas de Corrientes), were used to pay provincial employees and contractors when the province lacked sufficient federal transfers to meet its obligations in national pesos.
The Cecacor circulated under legal duress — local businesses were effectively compelled to accept them despite having no obligation to do so under federal law. Several other Argentine provinces issued similar quasi-currencies in the same period, but Corrientes was among the earliest and most aggressive in doing so.