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10 Pesos
| Issuer | Provincia de Río Negro |
|---|---|
| Year | 1995-1996 |
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| Currency | Peso Convertible(1992-date) |
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|---|---|
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| Reverse description | The entire face is occupied by the printed text of the authorising legislation, headed 'CERTIFICADOS DE DEUDA DE LA PROVINCIA DE RÍO NEGRO', setting out the articles of the decree governing issuance, redemption terms, interest rates and cancellation conditions. A faint guilloche underprint with floral motifs frames the text field, and a large stylised letter 'D' watermark vignette appears at lower left. |
| Reverse lettering | CERTIFICADOS DE DEUDA DE LA PROVINCIA DE RIO NEGRO Artículo 1°.- Autorízase al Poder Ejecutivo a disponer la emisión de 'Certificados de Deuda de la Provincia de Río Negro' (CEDERN) para los aplicables al pago total o parcial de las obligaciones del sector público provincial... (Translation: DEBT CERTIFICATES OF THE PROVINCE OF RIO NEGRO Article 1.- The Executive Power is hereby authorized to order the issuance of 'Debt Certificates of the Province of Río Negro' (CEDERN) applicable to total or partial payment of provincial public sector obligations...) |
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| Comments |
Río Negro's provincial bonds — locally termed "Bono Energético" notes — emerged from Argentina's 1995 fiscal crisis, when several provinces found themselves unable to meet payroll obligations in federal pesos. These quasi-currencies circulated as legal tender within provincial borders, accepted by local merchants under administrative pressure rather than genuine public confidence. Casa de Moneda's involvement gave the series a veneer of official credibility that the underlying provincial finances did not entirely support.
The series was demonetized following Argentina's broader provincial bond cleanup of the late 1990s, well before the catastrophic 2001–2002 national collapse that would revive the phenomenon on a far larger scale.