Catalog
5 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001-2002 |
| Type | Local banknote |
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| Obverse description | The provincial coat of arms of Chaco is positioned to the right, set within an ornate guilloche border. The left portion carries multiline text in letterpress identifying the certificate series, issuing authority, legal references, emission date of 12 October 2001, an 8% annual interest rate, and two maturity dates. The denomination CINCO PESOS appears in large letterpress text at the centre-bottom, with the imprint of Casa de Moneda at the lower left and a manuscript signature of the provincial treasurer above. |
|---|---|
| Obverse lettering | PROVINCIA DEL CHACO CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO `QUEBRACHO` AL PORTADOR LEY N° 4951/01 - DECRETO N° 1690/01 FECHA DE EMISIÓN: TASA DE INTERES 12 de Octubre de 2001 8% ANUAL FECHA DE VENCIMIENTO FECHA DE VENCIMIENTO INTERES 1° CUOTA: CAPITAL E INTERESES 2° CUOTA: 12 de OCTUBRE de 2002 12 de ABRIL 2003 CINCO PESOS (Translation: CHACO PROVINCE CERTIFICATES OF CANCELLATION OF OBLIGATIONS OF THE PROVINCE OF CHACO `QUEBRACHO` TO THE CARRIER LAW N ° 4951/01 - DECREE N ° 1690/01 ISSUE DATE: INTEREST RATE October 12, 2001 8% ANNUAL EXPIRATION DATE EXPIRATION DATE INTEREST 1st FEE: CAPITAL AND INTEREST 2nd FEE: OCTOBER 12, 2002 APRIL 12, 2003 FIVE PESOS) |
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| Comments |
The Chaco peso emerged from Argentina's 2001–2002 financial collapse, when the federal government froze bank deposits under the corralito and provincial governments — starved of federal transfers — began printing their own quasi-currencies to pay salaries and keep local commerce moving. Chaco was among more than a dozen provinces that issued these bonos; the notes circulated alongside the national peso at par, by provincial decree, and were accepted under varying degrees of public reluctance.
Casa de Moneda printed them in Buenos Aires under contract, which gave the series more physical credibility than some provincial issues run off by regional printers. Redemption followed the 2002 federal bailout agreement, which absorbed most provincial debt and removed these notes from circulation within a few years.