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20 Pesos
| Issuer | Provincia de Formosa |
|---|---|
| Year | 2001 |
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| In circulation to | 2003 |
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| Obverse description | The obverse is dominated by a central denomination vignette reading 'VEINTE PESOS' in bold red letterpress, flanked on the left by the coat of arms of Formosa Province set within an ornate guilloche underprint in warm tones of red and gold. The upper legend reads 'PROVINCIA DE FORMOSA / BONOS DE CANCELACION DE DEUDAS', with legal references to Ley N° 1.296, Ley N° 1.342, and Dto. N° 558/01 inscribed below. Emission and expiry dates are noted — 'Fecha de Emisión: 31 de julio de 2001' and 'Fecha de Vencimiento: 01 de agosto de 2003' — with a large numeral '20' vignette to the right and serial number and 'SERIE A' designation in the upper and lower right margins. |
|---|---|
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| Reverse lettering | PROVINCIA DE FORMOSA BONOS DE CANCELACION DE DEUDAS Leyes N°s 1.296 y 1.342 - Decreto N° 558/01 ARTICULO 1°: Dispónese la emisión de Bonos de Cancelación de Deudas de la Provincia de Formosa... ARTICULO 5°: El pago efectuado al acreedor mediante el BOCAN-FOR... ARTICULO 8°: Los Bonos de Cancelación de Deudas de la Provincia de Formosa... ARTICULO 9°: Los Bonos de Cancelación de Deudas circularán por la simple entrega... ARTICULO 11°: Los títulos a que se refiere el presente decreto tienen la garantía del Tesoro Provincial. ARTICULO 15°: El Ministerio de Economía, Obras y Servicios Públicos será la autoridad de aplicación... |
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| Comments |
Formosa's 2001 emergency note is one of the provincial quasi-currencies issued during Argentina's slow-motion fiscal collapse before the December 2001 crisis forced the federal government's hand. These provincial bonds — called "Lecops" at the national level and given various local names by individual provinces — circulated as de facto currency when cash became genuinely scarce, accepted for taxes, provincial salaries, and eventually retail transactions whether merchants liked it or not.
Formosa was among the poorer, more federally dependent provinces, which made its reliance on scrip particularly acute. The PS#0 reference indicates this piece hasn't been formally catalogued in Pick's supplement — documentation on the minor provincial issues from this period remains patchy.