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5 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
| 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 CINCO PESOS 5 |
| Reverse description | Log in to see details |
| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR) DECRETO - LEY Nº 1/99, 34/00 y DECRETO Nº 1236/00 |
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| Comments |
Corrientes issued its own provincial currency during the Argentine economic crisis of the late 1990s, when the province — chronically short of federal transfers — resorted to quasi-money to pay salaries and keep circulation moving. These notes, known as "Cecacor" bonds, circulated alongside federal pesos at nominal par but were often discounted in practice by merchants unwilling to accept provincial paper at face value.
The 2001 collapse ended the arrangement abruptly. Provincial scrip was eventually redeemed at varying rates, and much of what survived did so only because holders couldn't redeem it in time.