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5 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000-2001 |
| Type | Log in to see details |
| Value | 5 Pesos (5 ARS) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Provincia de Corrientes Certificados de Cancelación de Obligaciones de la Provincia de Corrientes CECACOR DECRETO - LEY N° 1/99 AL PORTADOR CINCO PESOS SERIE A FECHA DE EMISIÓN: 17/01/2000 AMORTIZACIÓN DE CAPITAL E INTERESES VENCIMIENTO: 17/11/2000 MINISTRO DE HACIENDA Y FINANZAS INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES (Translation: Province of Corrientes Certificates of Cancellation of Obligations of the Province of Corrientes CECACOR DECREE - LAW No. 1/99 TO THE BEARER FIVE PESOS SERIES A ISSUE DATE: 17/01/2000 AMORTIZATION OF CAPITAL AND INTEREST MATURITY: 17/11/2000 MINISTER OF FINANCE AND FINANCES FEDERAL INTERVENTOR OF THE PROVINCE OF CORRIENTES) |
| Reverse description | The reverse is dominated by a lengthy printed legal text in Spanish reproducing Articles 28 through 34 of Decreto-Ley No. 1 governing the CECACOR obligations, set within a guilloche-bordered panel. A lightly engraved decorative vignette of a floral or foliate motif appears in the lower right area of the field as an underprint element. The place and date of the decree, Corrientes, 30 de Diciembre de 1999, are printed at the foot of the text block. |
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| Comments |
Corrientes issued its own provincial bonds — legally framed as "Letras de Tesorería" — during Argentina's broader fiscal collapse, when several provinces effectively printed quasi-currency to pay public employees and suppliers after losing access to federal transfers. Corrientes was among the most financially troubled provinces at the turn of the millennium, having been placed under federal intervention in late 2001 following a prolonged budget crisis that predated the national default.
Casa de Moneda's involvement lent these notes physical credibility they arguably didn't deserve given the province's insolvency at time of issue.