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50 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
| Type | Local banknote |
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|---|---|
| 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 EMISIÓN: 01/08/2000 AMORTIZACION DE CAPITAL E INTERESES VENCIMIENTO: 31/01/2002 SERIE B MINISTRO DE HACIENDA Y FINANZAS INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES 50 CINCUENTA PESOS |
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| 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 Artículo 28°.- Autorízase al Poder Ejecutivo a emitir certificados de cancelación de obligaciones hasta la suma total de pesos CUATROCIENTOS MILLONES ($400.000.000,-). Artículo 30°.- Los Certificados se denominarán "Certificados de Cancelación de Obligaciones de la Provincia de Corrientes", en adelante "CECACOR". Artículo 32°.- El Poder Ejecutivo podrá rescatar anticipadamente la totalidad o parte de los CECACOR que se encuentren en circulación. Artículo 38°.- Los CECACOR podrán ser utilizados por sus tenedores para la cancelación de obligaciones, cualquiera fuere su naturaleza, con el Estado Provincial, Entidades Autárquicas y Empresas. |
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| Comments |
Corrientes issued its own quasi-currency during the provincial fiscal crisis of the late 1990s and early 2000s, when Argentina's federal government could no longer reliably transfer revenue-sharing funds to the provinces. These notes — formally called Letras de Cancelación de Obligaciones Provinciales, or LECOP precursors in the provincial sense — circulated alongside federal pesos as de facto legal tender within the province, accepted for tax payments and public-sector wages.
Corrientes was placed under federal intervention in late 1999, making the political circumstances around this specific issuance unusually turbulent. Notes from this period sometimes circulated well beyond their intended redemption dates simply because there was nothing else available.