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50 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001-2002 |
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| In circulation to | 12 January 2003 |
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|---|---|
| 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 CINCUENTA PESOS (Translation: CHACO PROVINCE CERTIFICATES OF CANCELLATION OF OBLIGATIONS OF THE PROVINCE OF CHACO `QUEBRACHO` TO THE BEARER LAW N° 4951/01 - DECREE N° 1690/01 ISSUE DATE: INTEREST RATE October 12, 2001 8% ANNUAL EXPIRATION DATE INTEREST 1st INSTALMENT: CAPITAL AND INTEREST 2nd INSTALMENT: OCTOBER 12, 2002 APRIL 12, 2003 FIFTY PESOS) |
| Reverse description | Log in to see details |
| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO `QUEBRACHO` LEY N° 4951/01 - DECRETO N° 1690/01.- Artículo 4: Autorízase al Poder Ejecutivo Provincial a emitir certificados de cancelación de obligaciones por las sumas necesarias para asegurar el cumplimiento y la efectivización de las obligaciones contempladas en la Ley de Presupuesto y en Leyes Especiales... Los Certificados se denominarán: "Certificados de Cancelación de Obligaciones de la Provincia del Chaco: QUEBRACHO". Artículo 6: Los Certificados de Cancelación "QUEBRACHO"... contendrán la formalidad y seguridad exigidas por los artículos 742 a 745 del Código de Comercio y demás condiciones que estime convenientes el Poder Ejecutivo. Artículo 8: El pago de toda obligación dineraria, tanto pública como privada, efectuado con Certificados de Cancelación "QUEBRACHO", implicará la extinción irrevocable de la obligación. Artículo 10: Los Certificados de Cancelación "QUEBRACHO" tendrán una paridad de uno igual a uno con el Peso Convertible de Curso Legal. Conforme el Art. 18 los Certificados de Cancelación "QUEBRACHO" tienen la garantía de la Coparticipación Federal de impuestos que le corresponden a la Provincia del Chaco. Resistencia, 3 de Octubre de 2001 (Translation: CERTIFICATES OF CANCELLATION OF OBLIGATIONS OF THE PROVINCE OF CHACO `QUEBRACHO` LAW N° 4951/01 - DECREE N° 1690/01.- Article 4: The Provincial Executive Branch is authorised to issue certificates of cancellation of obligations for the amounts necessary to ensure compliance with and fulfilment of obligations provided for in the Budget Law and Special Laws... The Certificates shall be called: "Certificates of Cancellation of Obligations of the Province of Chaco: QUEBRACHO". Article 6: The "QUEBRACHO" Cancellation Certificates... shall contain the formalities and security required by Articles 742 to 745 of the Commercial Code and such other conditions as the Executive Branch deems appropriate. Article 8: The payment of any monetary obligation, whether public or private, made with "QUEBRACHO" Cancellation Certificates, shall entail the irrevocable extinction of the obligation. Article 10: The "QUEBRACHO" Cancellation Certificates shall have a parity of one to one with the Legal Tender Convertible Peso. Pursuant to Art. 18, the "QUEBRACHO" Cancellation Certificates are guaranteed by the Federal Revenue Sharing corresponding to the Province of Chaco. Resistencia, 3 October 2001) |
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| Comments |
The Chaco 50 Pesos is a provincial bond note — a "bono" — issued during Argentina's catastrophic 2001–2002 fiscal collapse, when provincial governments across the country printed their own quasi-currencies to pay salaries and suppliers after federal transfers dried up. Chaco was among the poorer northern provinces, heavily dependent on federal revenue sharing, and had almost no capacity to absorb the shock when transfers stopped.
The two Pick references (254 and 255) reflect date variants within the same short emission window. Provincial bonos of this period were legally interest-bearing instruments, though in practice most circulated purely as cash substitutes and were never redeemed at face value.