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5 Pesos
| Issuer | Provincia de Córdoba |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | 5 Pesos |
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| Composition | Log in to see details |
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| Obverse description | The obverse is printed in teal and blue tones on white paper. At upper left, the inscription PROVINCIA DE CÓRDOBA / REPÚBLICA ARGENTINA appears above two facsimile signatures — those of the Ministro de Finanzas and the Secretario de Administración Financiera — flanking a central text block reading LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA) / AL PORTADOR / CINCO / PESOS VALOR NOMINAL, with the maturity date VENCIMIENTO 31 DE OCTUBRE DE 2004 at lower center. To the right, a detailed vignette of a classical arcaded building façade occupies the full height of the note, with the numeral 5 repeated in the upper-right corner and as a large digit at left; the serial number appears twice in the upper-right area and at lower left alongside a provincial coat of arms. |
|---|---|
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| Reverse lettering | LECOP CÓRDOBA (Decreto N° 2600/01) Artículo 1°: CRÉANSE las letras de cancelación de obligaciones provinciales como instrumentos de pago legalmente previstas para la extinción de las obligaciones de cualquier organismo del sector público provincial. Artículo 2°: LOS instrumentos de pago creados por el artículo anterior se denominan LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA). Artículo 7°: LOS pagos efectuados a los acreedores mediante la entrega de las LECOP CÓRDOBA importará la extinción irrevocable de los créditos por cuya causa se formalizó la entrega. Artículo 8°: LAS LECOP CÓRDOBA se emitirán (...) a treinta y seis (36) meses de plazo y devengarán un interés anual del siete por ciento (7%). El total del capital se amortizará al vencimiento del plazo señalado. El pago de los intereses se efectuará en cuatro (4) cuotas trimestrales, con vencimiento - la primera de ellas - a los veintisiete (27) meses de la fecha de emisión. 5 |
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| Comments |
Argentina's provincial quasi-currencies — the so-called "patacones" and their regional equivalents — emerged from the 2001 fiscal crisis as individual provinces lost access to federal transfers and could no longer meet payroll in pesos. Córdoba's own instrument, locally called the "lecop" or in some issues the "lecor," was one of several province-level emergency notes that briefly ran parallel to the national currency before the peso's formal collapse in December 2001 and the subsequent corralito.
The PS# reference indicates this has not been formally catalogued in standard Pick, which is common for the wave of Argentine provincial emissions from this period — many were short-lived, inconsistently documented, and redeemed quickly once federal stabilization funds arrived after 2002.