Catalog
20 Pesos
| Issuer | Provincia de Mendoza |
|---|---|
| Year | 2007 |
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| Currency | Peso (1992-date) |
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| Obverse description | Printed in blue and red on a light background with a fine guilloche underprint, the obverse bears the issuer's title 'PROVINCIA DE MENDOZA' in bold letterpress at upper centre, beneath which the legend 'LETRAS DE TESORERIA GARANTIZADAS CON REGALIAS PETROLIFERAS PETROM' is inscribed. The central intaglio vignette presents an oil derrick, with the large denomination numeral '20' at left and the provincial coat of arms at lower right. Facsimile signatures of the Contador General and the Tesorero General de la Provincia appear at lower left and lower right respectively, with the series designation 'SERIE A' also present. |
|---|---|
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| Reverse lettering | PROVINCIA DE MENDOZA LETRAS DE TESORERIA PETROM LEY 6982 Artículo 1°.- Autorízase al Poder Ejecutivo a contraer un empréstito público, representado por un programa de emisión de Letras de Tesorería denominadas PETROM, en una o varias series, hasta un importe máximo de PESOS CIENTO CINCUENTA MILLONES ($ 150.000.000). Artículo 2°.- Las Letras de Tesorería serán canceladas y su vencimiento y hasta que ello ocurra se garantizará con un fondo público integrado por la afectación periódica de un porcentaje de los recursos que ingresen por regalías petrolíferas, sólo en la porción de recursos que a la Provincia le correspondan, según ley de participación municipal. Artículo 3°.- Las Letras de Tesorería serán nominadas en pesos y tendrán su vencimiento el día 30 de marzo de 2007, fecha en que se cancelará el ciento treinta y cinco por ciento (135%) de su valor nominal. La amortización o rescate de las Letras de Tesorería será atendido con los recursos que se hayan acumulado en virtud de la afectación estipulada en el artículo 3°. |
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| Comments |
Mendoza's provincial currency program was revived in 2002 during Argentina's catastrophic peso crisis, when the federal government's corralito banking freeze left provinces unable to meet payroll. These quasi-currencies — known collectively as "cuasimonedas" — were issued by at least fourteen provinces simultaneously, functioning as parallel legal tender within their respective territories. Mendoza's were called Petros, pegged nominally to the national peso.
By 2004 the federal government had committed to redeeming all provincial paper at par, and most series were withdrawn fairly quickly. A 2007 date on a Mendoza provincial issue is late enough to warrant scrutiny — whether this represents a reprint, a dated replacement stock, or a collector issue deserves verification against Casa de Moneda production records.